Parliament adopts law on restructuring of foreign loans

The Verkhovna Rada of Ukraine has on the second attempt allowed forced conversion of the citizens’ foreign currency loans by banks at a reduced rate of UAH 5.05 to $ 1, according to a UNIAN correspondent.

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Earlier, on April 9, the Verkhovna Rada supported in the first reading bill No 1558-1 on the restructuring of liabilities on loans in foreign currency.

The project provided for all banks to be obliged within a month to restructure the obligations under the credit agreement at the official NBU rate on the date of the loan agreement at the written request of the citizens of Ukraine who had outstanding obligations under the loan agreements in foreign currency.

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