Pro-Zelensky MPs urge approval of IMF-required bill

26 March 2020

At least 25 MPs with The People's Servant faction, aligned with President Zelensky, expressed their support for a Mar. 25 open letter calling upon parliament to approve draft bill #3260, or the so-called anti-Kolomoisky bill that is being demanded by the IMF. “As of today, the approval of such a bill is the only chance for Ukraine to receive a loan from the IMF and avoid default … The announcement of a default will cause catastrophic consequences for our statehood,” said the letter, which they posed on their Facebook pages. In particular, they urged the parliamentary finance committee to approve the bill and submit it for the next session's agenda. They invited all MPs to come to the next session to vote in favor.


Recall, an updated version of a bill that is aimed at prohibiting the return Ukraine's failed banks, including Privatbank, to its former owners (#3260) was registered on Mar. 24. Lawmakers are planning to meet in the Rada building for a special session on Mar. 28 to consider this bill among others, based on the latest available information.


People's Servant MP Alexander Dubinsky, the deputy head of the finance committee and close ally to former Privatbank owner Ihor Kolomosky, responded to the letter from his colleagues by insisting that “people are waiting for other decisions” from lawmakers, including compensation of losses and increased social support related to quarantine measures. Later on, he stated that he will vote for the version of “the law on Privatbank” that will be finalized by the finance committee and "will comply with the constitution", possibly implying the current version does not.


Meanwhile, Dubinsky and his three colleagues (all identified by the media as MPs aligned with Kolomoisky) have registered four alternative drafts to bill #3260 on Mar. 25. The texts were not uploaded to Rada website as of the morning of Mar. 26.


Alexander Paraschiy: The fact that MPs saw the need to prepare a letter calling for the approval of the IMF-required bill suggests they see a risk of sabotage,  primarily from the MPs loyal to Kolomoisky. The first potential frontline for sabotage is the Rada's finance committee, while the second will be possible disruptions in the ability for parliament to meet on Mar. 28 amid the coronavirus quarantine.


In our view, the fate of this bill (as well as Ukraine's future cooperation with the IMF) will depend on the ability of President Zelensky to mobilize his Rada faction and vote in favor. It will be among the key tests of his presidency and we remain optimistic, while closely monitoring developments.

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