For four years, it has been hunting season in Ukraine. The hunter is the National Bank of Ukraine. And the countrys failing, undercapitalized, and often corrupt banks are the big game.
Ukraine agreed to clean up its corrupt banking sector in 2014 as one of the conditions for International Monetary Fund loans. Since then, it has declared more than 90 banks insolvent and confiscated their assets.
The state Deposit Guarantee Fund, which received the assets, paid out Hr 90 billion ($3.4 billion) to the banks depositors, a direct loss of state funds. But rampant bank fraud an…
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