DISINFO: Poroshenko and the IMF destroyed the Ukrainian banking system
  • Outlet: nahnews.org (archived)*
  • Date of publication: May 14, 2020
  • Outlet language(s): Russian
  • Reported in: Issue 197
  • Countries / regions discussed: Ukraine
Ukraine economy IMF Conspiracy theory

DISINFO: Poroshenko and the IMF destroyed the Ukrainian banking system


[…] for five years, Poroshenko, Gontareva [the former head of the National Bank of Ukraine], and some IMF representatives have robbed the banking system of Ukraine and plundered the country’s assets. In particular, the National Bank has been destroying banks and the Deposit Guarantee Fund has been selling banks’ assets.


Conspiracy theory. Pro-Kremlin disinformation narrative that undermines the banking sector reform in Ukraine and, in particular, the adoption of the anti-oligarch banking law on May 13. The anti-oligarch banking law, officially titled "Draft Law on Amendments to Certain Legislative Acts of Ukraine Concerning the Improvement of Certain Mechanisms for Banking Regulation", is designed to prevent the return of nationalised or liquidated banks to their owners. Over 100 commercial banks have been closed since the banking reform started in 2014. In 2014, many banks were non-transparent: they did not disclose their real owners, their reports did not reflect the real state of affairs. Even the audit reports did not guarantee an objective assessment. 103 banks were liquidated, their assets sold to return the deposits to individuals. As a result of the reform, the monetary system has improved in many ways. For instance, the banks are more stable now, they have enough reserves. The banking system has become more transparent. According to the World Bank, the banking sector reform in Ukraine was successful, its rollback could destabilise the banking system again.


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