Ukrainians have 3 times more money than entire banking system

The question "Where to get money?" can be solved by removing restrictions on deposit withdrawals.

19 October 2015 17:35

Today, the financial situation in Ukraine has been discussed by Natalia Yaresko, Finance Minister of Ukraine and Yaroslav Soltis, a former Deputy of the Ukraine’s National Bank and currently a banker, in the framework of a press conference in Kiev.

Ex-deputy head of the National Bank says that "the hryvnia is stable in the country, where the government understands its current and future responsibilities. But if the government starts feeling it will be difficult for it, it can destabilize the national currency."

- For six months the hryvnia has been holding steady. For UAH to work better, it is necessary to allow commercial banks to borrow money from the population. And you must lift restrictions on withdrawals. Sometimes even love and patriotism are measured by currency. The state does’t need the National Bank that does not ensure the stability of the currency, says the banker.

Finance Minister Natalia Yaresko said she wants a 2-fold increase in financial assistance to Ukraine. We, according to the official, still need $ 80 billion.

At the same time, Yaroslav Soltis is convinced it is necessary to act in a different way:

- Ukrainian population has a much larger sum – in cash it has to 3 times more money than the entire banking system of the country. It is necessary that people bring money into banks. At the same time, we should not give money to weak banks. We ought to prohibit commercial banks to purchase Treasury securities since it destabilizes the hryvnia.