Tymoshenko and Stelmach “persuaded” the bankers to buy Government Bonds by more than 2 billion UAH.
Banks agreed to buy Government Bonds with a six-month return of 21% over $ 2 billion UAH. This decision was taken during an expanded meeting of the Board of the NBU, which was attended by the prime minister and representatives of virtually all major banks with the Ukrainian and foreign capital (except for Privat), sources told The Mirror of the Week “.
As clarified “ZN” one of the participants, Yuliya Tymoshenko suggested the bankers to buy Government Bonds in the amount of 4,6 billion UAH.
According to the source, the NBU adopted Resolution of the Board, which was obligated to buy Government Bonds from the banks for five days prior to maturity.
“It will then be dealt with financial problems between the Cabinet and National Bank of Ukraine, Vladimir Stelmach did not say” - told the interlocutor “ZN”.
recall that in February, the government must pay back issues of state bonds worth about 1,5 billion UAH. More about 2,5 billion UAH. be paid to holders of Government Bonds in April. Nevertheless, in the first half of the Cabinet of Ministers must repay government debt of more than 8 billion UAH. In the second half, given the banks bought bonds on 2,1 billion UAH., The government will need to pay the holders of government securities is about 5,5 billion UAH.
According to the former deputy chairman of the National Bank of Ukraine Serhiy Yaremenko, the National Bank in this operation is the guarantor of government payments.
“I think the promise to buy Government Bonds for five days prior to their maturity and the government have the option of such a guarantee”, - considers Yaremenko.
In his view, such cooperation between the NBU and the Cabinet could mean that in the event of his presidency Tymoshenko Stelmach has a chance to retain the post of head of the National Bank. Therefore, the operation to force the banks to the purchase of new state bonds for maintenance of the old Cabinet will be held every time, once the approximate date of regular payment of financial market participants or the central bank.
Government”s policy on withdrawal of funds from the banking system Jaremenko appreciates sufficiently negative.
“The money that the government collects from banks, could be aimed at lending to the real sector of the economy. This would gradually revive the most competitive production”, - he said.
According to the expert, there is now a situation where the clients themselves because of excessive high cost of credit do not apply them to the bankers (in December, lending the economy grew by only 0.2% - Ed). Hence the constant saturation of the banking system liquidity.
“Business is not prepared to service the loans at 22-25% per annum in circumstances where it is impossible to predict the further development of production or sale,” - he said.
bankers themselves against such an "ca4;operation” did not object.
“The average cost of our liabilities hryvnia today just above 15%. When the rates for Government Bonds at the level of 21-23% per annum that investment becomes very profitable for the financial establishments, which are virtually risk nothing, - said chairman of the board of Ukrsotsbank Boris Tymonkin . - When investing in Government Bonds constrain us only limits established by parent banks, foreign groups “.
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