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Serhii Rybalka: Rada leaders’ involvement in the IMF negotiations will improve chances for financial draft laws consideration

President, Prime-Minister and top officials at National bank of Ukraine meet the IMF representatives, it is necessary that Chairman of Parliament would also have such contacts, declared Serhii Rybalka, Member of Parliament from Radical party, member of the Financial Policy and Banking Committee.

Serhii Rybalka: Unfortunately I do not see any collaboration with the Parliament at all
Serhii Rybalka: Unfortunately I do not see any collaboration with the Parliament at all
Photo: Сергій Рибалка / Facebook

Involvement of Verkhovna Rada of Ukraine leaders in negotiations with the International Monetary Fund will improve chances for consideration of a number of draft laws aimed at restoring people's trust towards financial and banking activities, revival of business lending and national economy’s recovery form crisis, said on 5 channel Serhii Rybalka, ex-chairman and active member of the Financial Policy and Banking Committee, Member of Parliament from Radical party.

The politician stated that the IMF does not collaborate with Parliament at the moment.

“Unfortunately I do not see any collaboration with Parliament at all. President, Prime-Minister, National bank of Ukraine [meet the IMF representatives], but I don’t see Chairman of Parliament,” he said.

Rybalka revealed that during his recent visit to Washington he was reassured that such meeting will take place. Rybalka specified that it did not matter, whether the meeting would be public or not. However, it is important that it happens and helps to start consideration of needed draft laws in Parliament.

“Only by developing our own economy we can raise, say, pensions and scholarship grants. Take the Law on the Credit Register that we adopted last week. 226 votes – on the verge of what is required. As the saying goes we barely got there. On the fourth attempt! Why? Because at the moment there are no interested parties willing to pass laws reforming financial and banking sector,” said the MP.

He is sure that this law alone allows fight fraud, reduce risks of financial institutions, and protect the interests of depositors. “99% of these draft laws have already passed through the specialized committee,” said MP.

Видео: 5 канал / YouTube

The Law on the Credit Register was adopted by Rada on February 6. Today it was sent to President for signing. According to the document National bank will be able to create centralized Register of loans that exceed 100 minimal wages in debt to one bank. Banks and the Deposit Guarantee Fund will be obliged to provide information to the Register and to inform clients about such provision. Clients will have the right to get access to the information about themselves and the right to demand alterations in case of disagreement.

National bank will provide commercial banks with information from the Credit Register free of charge. Starting from 2019 banks will be required to take that information into consideration when assessing a client.

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