The Guarantee Fund talked about billions in debt


Considering the interest, the fund should return more than 113 billion dollars to creditors

The Guarantee Fund talked about billions in debt. Photo:

The Individual Deposit Guarantee Fund (FGVFL) owes UAH 113.8 billion of debt obligations including interest. The issue of FGVFL’s solvency and Ukraine’s obligations to restore the fund’s solvency are included in the text of the memorandum with the IMF, the agency’s website reports.

FGVFL paid nearly two million depositors of bankrupt banks within a guarantee amount of nearly 90 billion. To make these payments in 2014–2017, the fund borrowed 80 billion UAH for commercial 10–14% from the National Bank and the Ministry of Finance.

“The issue of the solvency of the fund, raised in a memorandum with the IMF, relates to the debt obligations on these loans, which the fund will have to repay in 2025-2031 – amounting to UAH 113.8 billion, taking into account interest,” the statement said. Having said.

As of June 1, 2020, the fund has already returned more than 43 billion (of which 11.7 billion is UAH interest on the loan), including full payment to the NBU, having paid 25.6 billion UAH (of which 5.5 billion is UAH). – Interest).

In addition, FGVFL repeatedly made quick repayment of loans to the Ministry of Finance, of which 2 billion UAH was allocated to the Enterprise Development Fund. The balance of debt now stands at 48.1 billion and future interest at 65.7 billion dollars. The total amount of funds accumulated by the fund as of 1 June is 12.5 billion UAH.

The FGVFL specified that the main source of repayment of such loans is the sale of the assets of insolvent banks transferred to the management of the fund, while most of these assets were of very low quality, and they were often assisted by the courts in the respective parties of these banks Were largely withdrawn by

That is why the government is facing the need to restructure the debts of the fund, in particular, the transfer of debt into contingent liabilities – withdrawal of funds by recovering losses from the former owners and related parties of the respective banks.

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Earlier, the FGVFL reported how many Ukrainians faced problems in banks. Therefore, according to a study of the fund, in the last two years, 76% of Ukrainians have not encountered any problem situation while negotiating with banks.

At the same time, in the first quarter of 2020, the number of requests by financial services consumers at the National Bank of Ukraine increased by one and a half times the previous quarter, and the number of calls on the “hot line” increased by two and a half times, to 5.6 thousand. Arrived. From the beginning of the year. 9.685 complaints were processed in the press service of NBU, regulatory reports.

Read: Hryvnia or Foreign Exchange: FGVFL shared figures on deposits of Ukrainians

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