Parliament passes anti-crisis law that guarantees obtaining of IMF stabilization credit

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The law envisages establishment of a stabilization fund at cost of earnings from privatization and credits of international financial institutions. The amount of guaranteeing of deposits of individuals is increased to UAH 150 million (about USD 30 million). The means of the stabilization fund will be also channeled for crediting or co-financing of long-term infrastructure, investment and innovative nation-wide projects, reduction in price of crediting of small and medium business projects in order to increase the employment level of population. The means of the stabilization fund will be allocated for development of domestic consumption and export, support of construction, bank area including mortgage.

At the same time, the amount of state guarantees on credits of international financial institutions was decreased from UAH 40 billion to UAH 10 billion (to USD 2 billion).

The parliament did not back the amendment of people's deputy Kseniya Liapina to the anti-crisis law envisaging changes in the 2008 State Budget, namely allocation of about USD 83 million for financing the pre-term parliamentary elections.

The law will be valid till stabilization comes but no longer than till January 1, 2011. After that the parliament will have to abate it.

Commenting on the "hot" day in the parliament, Speaker Arseniy Yatseniuk noted that today "the parliament stood over private interests of peoples' deputies and took state positions".

As UKRINFORM earlier reported, Ukrainian Prime Minister Yulia Tymoshenko, being the enemy of the snap elections, predicted that positive voting on the anti-crisis law will become an introduction to the renewal of the democratic coalition in the parliament comprising BYuT, OUPSD and the Bloc of Lytvyn.

UKRINFORM