Ukraine's Cabinet of Ministers will shortly consider a program for the payment of defaulted deposits of Soviet-era depositors in 2013-2015, according to Ukrainian Prime Minister Mykola Azarov.
"The president has instructed the government to elaborate a program which would allow the continuation of the payment of compensation for [Soviet era depositors’] defaulted deposits in 2013, 2014, and 2015, in order to close in the three years an issue that disturbs citizens," the premier said after a meeting with Ukrainian President Viktor Yanukovych on Thursday, May 3.
Azarov said that the government has drawn up a program under which, except for partial payments in amount of up to UAH 1,000, the citizens will receive a payment card, on which the sum of the deposit will be indicated. According to the PM, in future these cards will be used to receive a large discount on utility and other payments.
The head of the government also said that in the near future Oschadbank would clarify all details of this initiative.
As reported, the government headed by former Premier Yulia Tymoshenko in 2008 decided to pay up to UAH 1,000 to each depositor of the former Soviet Sberbank. Only a half of the depositors received the compensation, following which the program was suspended due to a lack of funds and, as Tymoshenko claimed at that time, because of resistance of President Viktor Yuschenko and parliament.
In her presidential campaign in 2010, which she lost to Yanukovych, Tymoshenko promised to resume the repayment of the depreciated savings and pay the compensations in full within three years – if she won the election.
On March 7, Ukrainian President Viktor Yanukovych instructed the Cabinet of Ministers to ensure the payment in June through December 2012 of up to UAH 1,000 to each of the six million depositors of the former Soviet Sberbank as compensation for depreciated deposits. In April, amendments were made to the 2012 national budget, according to which UAH 6.15 billion was allocated for this initiative.
According to the Finance Ministry of Ukraine, the register of depositors included 11.8 million Ukrainian citizens as of January 1, 2012, and the sum of funds on the compensation accounts amounted to UAH 49.8 billion. Some 6.4 million people have received compensations of around UAH 1,000, with the total sum paid being UAH 5.8 billion. The register also includes 5.4 million people who are to together receive UAH 5.2 billion – UAH 1,000 each.
