The Rada is convinced that Ukraine will fulfill the requirements of the Memorandum with the IMF, including the competition for the position of the head of the Deposit Guarantee Fund

Ukraine will not have any problems with the implementation of the structural beacons set out in the Memorandum of Cooperation with the IMF, including the development of a procedure and an open competition for the position of the Managing Director of the Deposit Guarantee Fund. This opinion was expressed in an exclusive commentary to UNN by Oleksiy Movchan, Deputy Chairman of the Committee on Economic Development.

Context

On September 2, Ukrainian Prime Minister Denys Shmyhal announced the launch of the fifth review of the EFF Extended Fund Facility program, which is being conducted by the IMF Mission to Ukraine. According to him, this will allow the Ukrainian budget to receive $1.1 billion this fall. During its work in Ukraine, the IMF Mission checks the implementation of the Memorandum of Cooperation between Ukraine and the International Monetary Fund. According to this document, Ukraine, among other things, committed itself to developing a procedure for appointing the managing director of the Deposit Guarantee Fund through an open competition, introducing relevant amendments to the legislation, and transparently appointing a new head of the Fund in the spring of 2025. However, so far, the Ukrainian side has not fulfilled this obligation.

Regarding the development of the procedure for selecting the managing director of the Deposit Guarantee Fund, I can say that this is not a complicated story, especially today. No one will break spears there. Personally, I don't see any problems with the competition - everything is possible,

In his opinion, Ukraine and the IMF have high-quality cooperation, and our country strictly follows the guidelines set out in the memorandum with the IMF.

And what's important is that these issues are usually discussed and studied in advance - before signing the memorandum. So there are no random commitments. So I am convinced that everything will be fine,

The MP added that the memorandum spells out things related to parliamentary decision-making, as well as requirements that fall within the government's field of activity.

I'm not ready to answer for the government whether they are keeping up with everything, but I'm convinced that they are, because I don't see any problems with fulfilling their obligations. This is the key. In short, everything will be fine,

Add

The issue of appointing the head of the DGF has now become even more urgent. After all, the previous head of the Fund, Svitlana Recruit, resigned from her post and now the First Deputy Managing Director, Olga Bilai, is acting as Managing Director.

After Recruiter's dismissal, it became known that the Fund's Administrative Board, despite the IMF's demands, plans to appoint a new head in a closed regime. Currently, two main candidates are being considered - Bilya and Pavlo Polarush, head of the National Bank's Department for Work with Troubled Assets, who is called by the media the main contender for this post. 

Journalists found outthat Polarush repeatedly traveled abroad after the start of Russia's large-scale invasion of Ukraine. In particular, the journalists reported that in November 2022, he received permission to leave the country from the odious former Deputy Minister of Defense, who is currently a suspect in corruption crimes. The permit was allegedly issued to Polarush to travel abroad in an elite Lexus car to receive humanitarian aid. However, it is not yet known on what grounds Polarush traveled abroad from February to November 2022.

Member of the Verkhovna Rada Committee on Transport and Infrastructure Mykola Velychkovych believesthat law enforcement should investigate Polarush's travels abroad. And a member of the Verkhovna Rada Committee on National Security and Defense, Hennadiy Kasai , does not rule outthat Polarush may have problems during the special vetting process as a candidate for the position of managing director of the Deposit Guarantee Fund.

At the same time, MPs and experts interviewed by UNN emphasize that the election of the new head of the Deposit Guarantee Fund should be transparent and open. And one of the main selection criteria, along with professionalism, should be the candidate's crystal clear business reputation. 

It is extremely important to have an impeccable reputation. This is the key. It is important that this person has a decent reputation, is definitely a specialist and a patriot of Ukraine, and does not represent the interests of someone else