Return to the Ukrainian economy of barter and promissory notes as payment between enterprises may soon become a non-payment crisis, warns announced their intention to run for president of Ukraine, former head of the National Bank of Ukraine Sergey Tigipko.

So

Tigipko commented on the Government's decision to hold eliminations between the coal mines, power plants and railway, as well as the ruling Cabinet (on July 29, 2009 number 841) to permit Ukravtodor to issue a bill for the settlement with the contractors in the financing of activities in preparation for the Euro-2012, said his press service.

provided by a corporation Ukravtodor an opportunity to settle with contractors is not the money, and bills of exchange, is questionable alternative financing arrangements for preparation for Euro 2012, believes Tigipko. He recalled that a month earlier the government had been trying to find funds to finance preparations for Euro 2012 due to the redistribution of income bank, but changes in the state budget vetiroval president.

Now, against the backdrop of a chronic shortage of money the government is, in fact, suggested that the nalichku for the enterprise sector in the pseudo-money - bills and build roads to Euro-2012 in debt. However, the observed ex-head of the NBU, promissory notes, as a financial tool that can solve the problem of settlement only partially, and the need to treat them very carefully. After all, getting from Ukravtodor IOU instead of cash, believed Tigipko, businesses, contractors will not be able to, nor the technique to fill or raw material purchase, or pay their employees wages.

policy also predicts a relatively high discount of bills (up to 50%), which is unlikely to make them attractive for sale on the secondary market. One case - the issuance of debt receipts entities (the market itself will adjust the treatment of bills), and quite another - if the internal state debt will affect the budget deficit for future years (in the order the Government proposes to postpone the repayment of promissory notes for three years), summarized Tigipko.

To somehow mitigate the negative effects of the calculations for the contractors, ex-head of the NBU invites the Government to impose restrictions on the estimated bill for the corporation Ukravtodor and Нацбанку allow commercial banks to build their reserves in the light bills, releasing thereby the resources to lending to enterprises.

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