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Editor’s Note :

About 17% of Ukraine’s workforce may be working outside the country.  Between three and five million Ukrainian work abroad, Ella Libanova, demographer for the National Academy of Sciences, told yesterday’s forum. Let’s settle on four million. Trading Economics puts Ukraine’s workforce at 19.5 million. That would make a potential total national workforce of 23.5 million. Four million abroad = 17%. With Ukrainian migrant workers sending home $1 billion a month, Ukraine increasingly looks like the Philippines of Eastern Europe. With

Starting today, Covid-19 vaccination are open to all Ukrainian adults who sign up through the Diia app.

Health Minister Victor Lyashko said. “You can get vaccinated at your nearest vaccination point, or mass vaccination center,” he said. Ukraine administers four kinds of vaccines; AstraZeneca, Moderna, Pfizer, and Sinovac. The country is reporting about 500 new Covid cases a day – one tenth the level of two months ago.

Climate change means that agricultural zones are shifting north “by hundreds of kilometers,”

Agriculture Minister Roman Leshchenko said speaking at a farming forum in Kyiv yesterday. “The temperature has risen by more than 1 degree Celsius in 10 years — this has a very serious impact on the agricultural area,” he said. “With such dynamics as today, we can reach a situation where 2/3 of the territory of Ukraine will become a zone of risky agriculture.” As palliative measures, he recommended: irrigation, low till farming and planting of forest windbreaks to minimize erosion.

Without Ukrainian workers, the Czech economy would misfire,

 said Yevhen Perebiynis, Ukraine’s ambassador to the Czech Republic. “Without Ukrainian workers – and this is confirmed by almost everyone – the Czech Republic today would not be able to live,” he said. “Its economy would simply stop.” Currently, there are almost 180,000 Ukrainian citizens working in the Czech Republic and an addition to 53,000 Czech citizens of Ukrainian origin. Ukrainians now account for about 2% of the 10.6 million people living in the Czech Republic.

About 1.5 million Ukrainians work in Poland, which is three times the number of working in the country in 2014,

said Andriy Deschytsia, Ukraine’s ambassador to Poland, speaking at the Ukraine 30. Human Capital Forum yesterday. Over the period 2014 – 2021, the number of Ukrainian-owned companies has increased exponentially: from 680 in 2014 to 16,000 today. With many Ukrainians planning to go home to retire, the two countries are working a bilateral social security pact. About 50,000 Ukrainian students also study at Polish universities.

Ukraine’s central bank is likely to keep its key interest rate unchanged at 7.5% tomorrow,

expecting inflation will slow down in coming months, indicates a Reuters poll of analysts. At the meeting of the monetary policy board of the National Bank of Ukraine, ten of 14 Ukrainian analysts forecast no rate change. The other four analysts predicted the rate will go up to 8%. Ukraine’s annual inflation rate climbed from 6.1% in January to 9.5% in May 2021.

Yesterday the Finance Ministry sold $285 million worth of bonds, 21% less than the previous week.

The sale covered half of UAH 15.6 billion in principal repayments due today. Interest rates on all six bonds were unchanged from the previous week, the Ministry reported. They ranged from 10.99% for 1-year hryvnia bonds to 12.59% for 5-year hryvnia bonds. The Ministry also sold €8 million worth of 1-year Euro bonds at 2.5%. Demand may have been weak as investors were waiting for tomorrow’s meeting of the central bank’s rate setting board.

To sell the agreement to Ukraine and Poland, Derek Chollet, State Department counselor, will meet with officials in Kyiv today and in Warsaw tomorrow

. His mission’s goal is to discuss “our shared concerns about the Nord Stream 2 pipeline and energy security,” the State Department says. A top advisor to Secretary of State Antony Blinken, Chollet has the rank of Under Secretary of State. The goal is to get President Zelenskiy on board prior to his visit to the White House, expected for August.

Germany and the US are finalizing an agreement which would allow Nord Stream 2 gas pipeline to open this fall – under certain conditions,

 Bloomberg reports from Washington, citing U.S. officials. Conditions are to include: sanctions if Russia tries to use the pipeline as a weapon against Ukraine; Germany would lobby Russia to extend Gazprom’s Ukraine gas transit contract beyond its 2024 expiration; and the US and Germany would push for $1 billion worth of investments in a ‘Green Fund’ to help Ukraine’s move to cleaner energy. Germany would commit an initial $175 million to the fund and appoint a special envoy to support

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