Recently, the National Anti-Corruption Bureau of Ukraine (NABU) searched the National Bank of Ukraine (NBU). Apparently, the purpose of the search was to uncover evidence to establish whether the NBU’s refinancing program to banks during the 2014-2015 crisis led to losses of taxpayer money. Obviously, the taxpayers are entitled to know how their funds are spent and whether there is any abuse. However, before jumping to conclusions, we should understand the risks associated with refinancing troubled banks as well as why refinancing is provided.
OP-ED
Yuriy Gorodnichenko: The economics and crime of refinancing troubled banks
The photo, released on March 24, 2017, shows the interior inside the National Bank of Ukraine building in Kyiv.
