MP: Easing the ban on converting foreign currency loans into hryvnia will help business development
Kyiv • UNN
Liudmyla Buymister, a member of the Verkhovna Rada's Economic Committee, supports easing the ban on converting foreign currency loans into hryvnia for entrepreneurs. This will contribute to the development of business and the economy, which is critically important for the country.
The easing of the ban on converting foreign currency loans into hryvnia for entrepreneurs will be very useful, as it will help to develop business. This opinion was expressed in an exclusive commentary to UNN by MP, member of the Verkhovna Rada Economic Committee Liudmyla Buymister.
Such changes would be very appropriate, and I hope that the NBU, which has actually done a great job during this full-scale invasion, and we must pay tribute to them for maintaining macroeconomic stability in the country, will now carefully but gradually look at liberalizing all these currency restrictions,
According to her, the easing of the ban on the conversion of foreign currency loans will help develop business, which is very much needed in the country today, because without the economy and budget revenues it will be very difficult to meet the needs at the front.
For some strategic industries, restructuring of foreign currency loans should be allowed, which is 200%. And for the rest. After all, the players that existed in one environment before the full-scale invasion are now operating in completely different conditions. And they are critical for the functioning of the country in general,
It is worth noting that experts in the comments of UNN saythat the NBU does not need to cancel the ban, but should allow banks to individually decide on the conversion of foreign currency loans into hryvnia. After all, such concessions will reduce the risk of non-repayment of such loans.
Context
Since the beginning of the full-scale invasion, Ukrainian business has demonstrated resilience and readiness to quickly adjust to current challenges.
In the case of the ban on converting foreign currency loans into hryvnia, Ukrainian businesses are often forced to take unpopular steps to stay afloat and avoid losing everything.
One of the Ukrainian businesses that has a foreign currency loan that dates back to 2006 is the owners of the Gulliver shopping center in Kyiv. By the way, at the time of the loan, the company that received the loan had other owners. The crises of 2008 and 2014 dealt an irreparable blow to businesses that were lent in foreign currency. This led to the fact that the current owners of Gulliver were forced to restructure their debt in 2020. However, they were unable to convert the loan into hryvnia.
