PM Shmyhal: Ukraine not under threat of default
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Prime Minister of Ukraine Denys Shmyhal believes that Ukraine is no longer under threat of default.
The politician expressed this optimism in an interview with the Handelsblatt German business media outlet published a few hours before his first talks with German Chancellor Angela Merkel.

"I see absolutely no reason for Ukraine's insolvency," Shmyhal said.

Ukraine conducts a constructive dialogue with the IMF and is in the final stages of concluding a $5 billion Stand-By Arrangement with the institution for a period of 18 months, which is especially important from the point of view of building confidence in Ukraine and adoption of a bank law, he informed.

"I expect this to be settled soon," Shmyhal said about the law.

Once passed by the Parliament, "the return of a bank or billions in compensation to a previous owner will become impossible," the PM added.

A necessary condition for receiving the loan is the land reform and the law on bank operations. The Parliament already passed the land law, but oligarch Ihor Kolomoisky is putting pressure on President Volodymyr Zelensky in fulfillment of the second condition, Handelsblatt notes.