The Council named the main requirements for a candidate for the position of the head of the Deposit Guarantee Fund

The new managing director of the Deposit Guarantee Fund must have an impeccable reputation, be a professional and a patriot of Ukraine. This opinion was expressed by MP Mykhailo Tsymbalyuk in an exclusive commentary to UNN.

Context

In September, an IMF mission will start working in Ukraine in preparation for the fifth review of the Extended Fund Facility program. The expert discussions will focus on Ukraine's implementation of the Memorandum of Economic and Financial Policies. One of the points of the document is to develop a procedure and hold a competition for the head of the DGF in the spring of 2025.

It is extremely important to have an impeccable reputation. This is the key. It is important that this person has a decent reputation, is definitely a specialist and a patriot of Ukraine, and does not represent the interests of someone else

At the same time, according to the MP, one should be extremely cautious about involving international experts in the selection committee for the position of managing director of the Deposit Guarantee Fund.

"As for the participation of international experts, it is important, but we need to maintain a balance here so that it does not look like this is an appointment from outside, without the participation of Ukrainian society. 

Competitions should be transparent," said Tsymbalyuk.

According to him, it is important that clear rules are established, including that the acting managing director of the Fund can work for six months, and after that a transparent competition to select the head of the DGF should be held.

Recall

Following the dismissal of Svitlana Rekrut as Managing Director of the Deposit Guarantee Fund, her deputy, Olga Bilay, is acting as the head. According to media reports, despite the IMF's demands, the Fund's Administrative Board plans to appoint a new head in a closed session. Currently, two main candidates are being considered - Bilay and Pavlo Polarush, head of the National Bank's Department for Work with Troubled Assets, who is called by journalists the main contender for this post. 

According to media reports, Polarush repeatedly traveled abroad after the start of Russia's large-scale invasion of Ukraine. In particular, journalists reported that in November 2022, he received permission to leave the country from the odious former Deputy Minister of Defense, who is currently a suspect in corruption crimes. The permit was allegedly issued to Polarush to travel abroad in an elite Lexus car to receive humanitarian aid. However, it is not yet known on what grounds Polarush traveled abroad from February to November 2022.

Member of the Verkhovna Rada Committee on Transport and Infrastructure Mykola Velychkovych believesthat law enforcement should investigate Polarush's travels abroad. And a member of the Verkhovna Rada Committee on National Security and Defense, Hennadiy Kasai , does not rule outthat Polarush may have problems during the special vetting process as a candidate for the position of managing director of the Deposit Guarantee Fund.