IMF: nationalising Ukraine's PrivatBank important for stability

KIEV: The International Monetary Fund said on Monday that the Ukrainian authorities' decision to nationalise PrivatBank was an important step in their efforts to safeguard financial stability.

The Fund, which is supporting Ukraine with a $17.5 billion ongoing bailout, said in a statement that it would continue to help Ukraine "in its efforts to build strong institutions, enhance transparency, and advance structural reforms."

Ukraine took over its largest bank on Monday in one of the biggest shake-ups of the war-torn country's banking system since Ukraine plunged into economic and political turmoil more than two years ago.