Rada may adopt IMF-required banking law in May, MP says
14 April 2020
MP Oleksandr Korniyenko, the deputy head of The
People’s Servant parliamentary faction, said he expects Ukraine’s parliament
will be able to vote for the IMF-required bill on banking resolution (the
so-called anti-Kolomoisky law) in the second reading in late April or early
May, Interfax-Ukraine reported on Apr. 13. Recall, MPs filed over 16,000 amendmentsfor the bill after its adoption in the first reading, making the review of
these amendments in regular procedure to take over five months. To speed up the
review, MPs first will approve a special law to introduce an expedited
procedure for approving a bill that has over 500 amendments, People’s Servant
MP Yehveniya Kravchuk told the Interfax-Ukraine news agency. In the view of
Kravchuk, such a procedure could limit consideration to just one amendment from
a particular MP and five additional amendments from a faction. Currently, each
MP can demand consideration of any amendment, which takes at least three
minutes to discuss and vote upon.
Korniyenko said he expects the special law could be
approved by the Rada on Apr. 15, after which it is likely to be blocked for at
least a week by MPs opposing its approval (MPs can file draft resolutions to
cancel a bill, as was tried with the land reform measure, which then must be
rejected before the president can sign the original legislation into law). In
this way, the Rada will likely be ready to vote for the banking bill in the
last week of April or in early May, Korniyenko said.
Alexander Paraschiy: The
proposed way to speed up approval of the banking law looks time-consuming, but
hopefully it will allow for bypassing an even more time-consuming review of
16,000 amendments, which would postpone the bill’s approval to autumn. So far,
we believe it is possible to approve this needed law, which will open large
multilateral financial support for Ukraine, in mid-May. While the risk of
sabotage and further postponements are high, we are keeping an IMF deal in May
as our base-case scenario.
