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What Is the Future of Privatbank?

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The $5 billion balance hole falls on the taxpayers` shoulders. Privatbank former manager`s doings have led to that. This indicates some irregular actions. The prosecutor’s office should first understand who took the decisions, CASE Ukraine Executive Director Dmytro Boyarchuk in the expert column for ‘Novoye Vremia’ writes.

Privatbank former management`s actions have led to the fact that $5 billion balance hole has fallen on taxpayers. The nationalization of the bank was a quite easy thing, as Dmytro Boyarchuk, Executive Director of the CASE Ukraine Center for Socioeconomic Studies, comments. However, virtually a significant part of the debt – of the state debt that we will service and pay – is connected with the problems of functioning of PrivatBank.

As the economic situation stabilized, the problem became frozen. The main issues now lie in the legal and political strata. Thank God, it has not affected and does not affect economic stability, the expert says.

How will this frozen Privatbank problem develop? It all depends on political will. Opening a criminal case is okay. However, many criminal cases have been opened. The question is what will happen to them in the courts. An opening of a criminal case sounds very loud, but it is difficult to say what perspective is.

July 5, 2017