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8.1.3 Banks specific issues
The Deposit Guarantee Fund has completely liquidated 51 of the 97 banks declared insolvent during the 2014-2016 banking crisis, Svitlana Rekrut, Managing Director of the Fund, tells the Kyiv Post. However, assets frozen for a decade have depreciated sharply, presenting obstacles for the Fund to repay its $4.3bn debt to the state. The Fund’s goal is to triple by 2023
49 UKRAINE Country Report July 2021 www.intellinews.com