G7 calls on Ukraine for reforms; SAPA accuses Ermak of money laundering

The heads of financial departments and central banks (CBs) of the Group of Seven (G7) countries call on Ukraine to carry out reforms aimed at combating corruption, achieving the rule of law and countering the shadow economy, the G7 statement said.

Earlier, a meeting of finance ministers and heads of central banks of the G7 countries was held in Paris.

“We call on Ukraine to make steady progress in implementing its reform program aimed at strengthening the rule of law, (improving – ed.) public administration, fighting corruption and the shadow economy,” the statement said.

The SAPO of Ukraine charged Ermak with money laundering during the construction of luxury housing near Kiev.

The Supreme Anti-Corruption Court of Ukraine ordered Ermak to be sent into custody, but he was released from pre-trial detention on bail of 140 million hryvnia ($3.1 million).