Stelmakh supported Tymoshenko in exchange for guarantees

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Friday, December 11, 2009, 09:19 Printable version Comments 18

The head of National Bank Vladimir Stelmakh signed the letter to the IMF in exchange for the promise of the prime minister Yulia Timoshenko not to transfer into the budget a difference between the income and NBU expenses for the current year.

The first deputy head of NBU Anatoly Shapovalov who went to Washington on negotiations with the International Monetary Fund as a part of the Ukrainian delegation reported to the newspaper "Business" about such guarantees.

According to the edition, the government faced threat to ask for the help the IMF alone: the president at once refused to vise the address, and the head of NBU long disagreed to sign it - but as a result Tymoshenko was succeeded to finish Stelmakh.

According to Shapovalov, in the letter to the IMF the Cabinet of Ministers promises that will achieve revision of the law on National Bank which was changed on August 21. According to changes, the National Bank has to transfer into the budget the sum of excess of the income over expenses not following the results of last year as was earlier, and for every quarter current.

Moreover, the parliament at the initiative of the government even stated the exact sums which the National Bank is obliged to give in the law on the budget. This year 9,8 billion UAH demand from NBU

If Tymoshenko keeps the promise and editings to the law on National Bank will cancel, NBU following the results of 2009 will have to transfer into the budget only actual sum of excess of the income over expenses, instead of 9,8 billion UAH as the Cabinet of Ministers demanded. Besides, in 2010 of NBU won't transfer the "profit" amount quarterly.

The government initiated changes inconvenient for National Bank, having secured with support of Party of Regions in parliament. In the new edition 5-I article of the law about NBU oblige National Bank to transfer excess of its budget income over expenses into the budget.

Since this year NBU has to give quarterly to the budget all balance - to 20-го the date following reporting quarter. Old edition of the law on National bank demanded from it to bring excess of the income over expenses only for last year. Besides, deputies cancelled norm on which to National Bank had to compensate from the budget a negative difference between the income and expenses.

"We insisted on that the government assumed the obligation this norm to return. It is our principled stand", - Shapovalov speaks.

Withdrawal from the draft budget of-2010 norms who obliges to list NBU in treasury of 10,5 billion UAH from excess of the income over expenses according to the same scheme of quarterly contributions has to become one more step towards to National Bank. "We very much hope for it", - the first deputy head of NBU speaks.

According to the newspaper, in the letter - a request to the IMF the Cabinet of Ministers also promised to Fund to revise the budget-2010, having cut down its expenses on 40 billion UAH and having cut down the income on 30 billion as it is already provided in No. 1181 resolution KMU.

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