Minister of Ukraine Arseniy Yatsenyuk expressed hope that the Ukrainian
Parliament will expedite the revision and adopt in the second reading a
government bill, which allows the return to Ukraine of foreign currency, being
in foreign accounts, and take another step towards the stabilization of the
national currency. The Head of Government said at a Cabinet’s meeting on
Wednesday, March 4.
that adopted by the Verkhovna Rada
in the first reading draft amendments to the Law of Ukraine "On the
procedure of effecting transactions in foreign currency" regarding
currency regulation and currency control" affords to ensure returning of
foreign currency to Ukraine - “billions of dollars that remained abroad – and,
thus, to stabilize the currency situation."
Minister expressed gratitude to Minister of Finance of Ukraine Natalia Jaresko for she could have managed “throughout two days to
finally persuade the members of Parliament, at least in first reading, to vote
for this law”.
to Arseniy Yatsenyuk, the Government is doing everything in power to settle the
monetary situation, "We as the Government have few tools, how to influence
the rate of the national currency, as it is an exceptional competence of the
National Bank of the country, but we do everything we can to help. Including
through a legislative initiative called to reduce the terms to carry
transactions in a foreign currency, which provides an opportunity to return the
foreign currency being saved in foreign accounts back to Ukraine, and thus we
can take another step to facilitate the stabilization of the national
Yatsenyuk reminded that on March 3 he had held a conversation with the
Secretary of the Treasury of the United States of America, "We expect a
positive decision of our international partners to grant a financial assistance
and to allocate the first tranche to ensure stabilization of the Ukrainian economy
by the International Monetary Fund".
preliminary actions envisaged by our cooperation program with the International
Monetary Fund, as always, have been taken by the Ukrainian Government.
Therefore, we expect the IMF Board of Directors will summon their meeting on
March 11, and as soon as possible, following a positive decision, we will be
able to obtain additional financial resources, capable to stabilize both the
national currency and public finance", stressed the Head of Government.