Penalty on foreign currency loans banned until 2022

Взыскания по валютным кредитам запретили до 2022 года

Photo: press service of the NBU

Parliament extended the moratorium, which was due to expire in October of this year. It can cancel a separate decision.

The Verkhovna Rada at a meeting on Thursday, July 16, extended until 2022 prohibition on collection of property by foreign currency loans. This decision was supported by 349 deputies.

The act was extended until the adoption of a separate document, which addresses not only the issue of restructuring of debts of the borrowers on foreign currency loans and the order of/features of foreclosure on the mortgage assets.

This project also makes a change to the Code of Ukraine on bankruptcy procedures, but it excludes the provision on the unenforceability of the law on the moratorium.

The law on the moratorium were to lose force on 21 October 2020.

It should be noted at time of quarantine in the Ukraine, a moratorium on business inspections.