The Verkhovna Rada of Ukraine adopted the Law "On Amendments to the Budget Code of Ukraine and Several Legislative Acts of Ukraine" (re Harmonization with the Provisions of the Effective Laws)

07 July 2011, 16:40

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The Law amends several provisions of the Budget Code on:

 

national (local) loan servicing operation on payment for use of loan (credit), payment of commission, penalties and other payments connected with national loan (credit) management. Redemption of national debt is not qualified as such an operation;

 

redemption of national (local) debt operation on repayment of a debt under the loan agreement to balance the budget and optimize the debt loan;

 

national (local) debt management operation connected with borrowing, service and redemption of the state (local) debt, other transactions with state (local) debt to balance the budget and optimize the debt loan.

 

The Law also defines the grounds for the state local guarantees submission.

 

The draft is registered under Reg. No.8545.