Verkhovna Rada adopts law

Verkhovna Rada adopts law "On peculiarities of exercising authorities with state, state-secured and local debts"

Information Department of the Verkhovna Rada of Ukraine Secretariat
Published on 19 May 2015, at 15:55

The Law is mainly aimed at consolidation of economic security of the state, protection of social interests and interests of the state in view of redemption and servicing of state and state-secured debts.

The Law authorized the Cabinet of Ministers of Ukraine and respective local councils to take decision on temporary termination of payments on all or some state external borrowings, state-secured foreign loans (borrowings) and local foreign borrowings enshrined in Supplement to the Law.

The said bodies are also authorized to introduce temporary moratorium on satisfaction of demands of creditors on the said obligations.

The Law was adopted with a remark.

Respective draft law was registered under No. 2898.

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