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Business Is Concerned about Non-Effective Draft Law on Restructuring of Foreign Currency Mortgages

Business Is Concerned about Non-Effective Draft Law on Restructuring of Foreign Currency Mortgages

The business community united by the American Chamber of Commerce in Ukraine, the European Business Association, the Independent Association of Banks of Ukraine, and the Forum for Leading International Financial Institutions, is deeply concerned about passing the Draft Law #4475 in the first reading, which is a non-effective Draft Law on restructuring of foreign currency mortgages.

This Draft Law will significantly worsen the legal position of creditors in relations with debtors, increase credit risks and risks of loss of assets by creditors, and will have negative consequences for the economy.

Read the full statement in Ukrainian.

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