Reports on possible default in Ukraine "rumors": Zelensky

The head of state assures he intends to protect the interests of the state and Ukrainian citizens in the PrivatBank case.

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Ukrainian President Volodymyr Zelensky has dismissed as "rumors" reports about a possible default in Ukraine.     

"As for the default, these are rumors and well-thought-out actions that have nothing to do with my official position," he said at a meeting with Vice-President of the European Commission Valdis Dombrovskis, the presidential administration wrote on Twitter on June 4.

Zelensky has also assured that, in the PrivatBank case, he intends to protect the interests of the state and citizens of Ukraine.

"As for PrivatBank, I will protect the state only, citizens only. I am not interested in the former owners' games in court. I am not going to side with them," Zelensky said while meeting with European Commission Vice-President for the Euro and Social Dialogue Valdis Dombrovskis in Brussels on June 4.

Read alsoDanyliuk: Declaring default in Ukraine not an option

As UNIAN reported earlier, on May 28, newly appointed Secretary of the National Security and Defense Council Oleksandr Danyliuk said Ukrainian President Volodymyr Zelensky's team did not even consider as an option declaring a default in Ukraine.

"The government's position is to protect citizens' interests. It's clear that default on [the country's] debt instruments is the road leading nowhere. It undermines trust in the state, which would immediately lead to consequences that would affect people. Therefore, such options are not even under consideration," he told journalists following a meeting of Zelensky's team with representatives of a mission of the International Monetary Fund in Kyiv on May 28.

UNIAN memo. The Cabinet of Ministers in December 2016 decided to nationalize PrivatBank, guided by the recommendations of the National Security and Defense Council. Before nationalization, the key shareholders of the bank were businessman Ihor Kolomoisky and his partner Gennadiy Bogolyubov.

On April 18, 2019, Kyiv's District Administrative Court declared unlawful and overturned the decision made in 2016 to withdraw "insolvent" PrivatBank from the market with the participation of the state.

The same court overturned the decision of the National Bank on the list of persons related to PrivatBank, which was one of the main for "bail-in" procedures for the bank's nationalization – the exchange of assets of entities affiliated with the bank for the bank's shares with their subsequent sale to Ukraine's Finance Ministry.

Ukraine's international partners, in particular the European Bank for Reconstruction and Development, the World Bank and the U.S. Embassy issued statements of support for the nationalization of PrivatBank.

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