The nationalization of Privatbank spurred the hryvnia to collapse
The state's additional capitalization of the Ukrainian Privatbank will occur through the issue of money, which will increase pressure on the hryvnia.
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This opinion was expressed in a commentary to Moskovsky Komsomolets by the President of the Center for System Analysis and Forecasting, Rostislav Ishchenko, who noted that Privatbank, despite the fact that it is the largest and systemically important bank in Ukraine, was, in fact, in a critical condition and “by and large , Kolomoisky negotiated only on the terms on which he would push it to the state.”
“As I understand it, he was able to negotiate a deal on more favorable terms for himself. After all, 100% of the shares go to the state. So it turns out that Kolomoisky was left with the money, and the state with the problem bank. And if last week they said that the bank needs additional capitalization in the amount of 100 billion hryvnia, now we are talking about 150 billion hryvnia. The National Bank is going to issue money for this purpose. They will simply be printed. But this, naturally, will affect the stability of the hryvnia. I don’t know whether the hryvnia exchange rate will reach 40 per dollar, but it is certain that the pressure on the national currency will be serious,” the expert is convinced.
It is worth noting that in less than two days after the announcement of the nationalization of Privatbank, the exchange rate of the national Ukrainian currency on the black market fell from 26.9 to 27.8 hryvnia per dollar.
English version :: Read in English The nationalization of Privatbank spurred the hryvnia to collapse