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Business in Ukraine proposed restructuring of foreign currency loans.

Business in Ukraine proposed restructuring of foreign currency loans.

Posted in News.

The relevant bill has already been submitted to the parliament.
The Cabinet of Ministery of Ukraine submitted to the Verkhovna Rada a draft law “On financial restructuring”, developed by the Ministry of Finance together with the National Bank of Ukraine (NBU) and the Independent Association of Ukrainian Banks (NABU) as part of a package of bills to support the received foreign currency loans of citizens and businesses.
The relevant draft law “On financial restructuring” (№3555), involves the voluntary restructuring of debts to banks operating business is registered at the parliamentary website today, 30 November, but the text of the document is not yet available.
Also, the Cabinet of Ministry has registered a bill on amending the Tax Code of Ukraine for the implementation of the Law “On financial restructuring” (№3556), but the text has not been published.
As reported, the Cabinet of Ministery approved a package of bills for the support received foreign currency loans of citizens and businesses. Bills developed by the Ministry of Finance together with the National Bank and the Independent Association of Ukrainian Banks. The package of bills “On financial restructuring” and “On the restructuring of liabilities of Ukrainian citizens on loans in foreign currency obtained for the purchase of a single property (mortgage loans).”
With regard to the debt restructuring business, then, according to experts, the total debt of companies that fall under this mechanism is about 200 billion USD.

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