Finance

Monday, December 23

The National Bank continues easing currency restrictions: What has changed?

The National Bank continues easing currency restrictions: What has changed? Changes that ease currency restrictions in three areas came into force on December 21. This easing will support domestic producers and improve the conditions for doing business in Ukraine. At the same...

The EC is again considering the full confiscation of frozen Russian assets.

The EC is again considering the full confiscation of frozen Russian assets. The EU should consider taking bolder measures, such as confiscating the Russian Central Bank’s foreign assets as compensation for Ukraine, said Valdis Dombrovskis, the European Commissioner for ...

The EU and the US are channeling billions from Russian asset proceeds to help Ukraine.

The EU and the US are channeling billions from Russian asset proceeds to help Ukraine. The European Commission has announced macro-financial assistance to Ukraine through a loan of €18.1B, which will be paid in equal installments throughout 2025 with the first tranche expected in Januar...

Global mergers and acquisitions deal volume to top $3T.

Global mergers and acquisitions deal volume to top $3T. In 2024, global mergers and acquisitions (M&A) volume will top $3T, up 11%. The value of deals worth more than $5B has increased 19% since the beginning of the year, while the number of deals has...

Thursday, December 19

Piraeus Bank sponsored the War & Politics Live event in Kyiv: What the Future Holds for Ukraine in 2025.

Piraeus Bank sponsored the War & Politics Live event in Kyiv: What the Future Holds for Ukraine in 2025. On December 13, the UBN Network hosted an event titled “WAR & POLITICS: POST US ELECTIONS – WHAT THE FUTURE HOLDS FOR UKRAINE.” As the general sponsor of UBN’s series of ev...

Wednesday, December 18

How will the hryvnia exchange rate change against the dollar in 2025?

How will the hryvnia exchange rate change against the dollar in 2025? The dollar exchange rate will grow moderately during 2025, the ICU investment company predicts. It is noted that the hryvnia exchange rate now depends entirely on the NBU’s vision of its optimal...

Activitis Financial Company and VisionFund Ukraine have joined forces to support small and medium-sized businesses.

Activitis Financial Company and VisionFund Ukraine have joined forces to support small and medium-sized businesses. The initiative involves: Expanding access to financing for micro, small, and medium-sized businesses in Ukraine Developing a program to finance franchise businesses Promoting joint initiatives in the ...

Tuesday, December 17

Europe has delivered just over 50% of the aid it promised to Ukraine.

Europe has delivered just over 50% of the aid it promised to Ukraine. According to columnist Mark Champion, from the beginning of the Russian invasion in February 2022 to the end of October 2024, Europe has pledged €241B in support of Ukraine, while the US promised €119...

How much do loans for businesses and individuals cost in Ukraine?

How much do loans for businesses and individuals cost in Ukraine? In November 2024, banks reduced loan rates, according to data from the National Bank of Ukraine. The average interest rate on new bank loans to individuals in the national currency were 33.8% per annu...

Monday, December 16

The US State Department has announced four economic assistance packages for Ukraine and established an economic recovery working group.

The US State Department has announced four economic assistance packages for Ukraine and established an economic recovery working group. The US will provide Ukraine with a new financial assistance package worth about $437M, Deputy Secretary of State and Acting US Special Representative for Economic Recovery for Ukraine Richard Verma sa...

The EU will continue to assist Ukraine’s energy sector; the Energy Support Fund has already accumulated over €900M.

The EU will continue to assist Ukraine’s energy sector; the Energy Support Fund has already accumulated over €900M. The EC will continue to provide all the necessary support to Ukraine’s energy sector – not only in the winter but also in the future, said Mechthild Wörsdörfer, deputy director general for the E...

Canada will finance Ukraine’s rural population’s business initiatives, and Piraeus Bank will support Ukrainian SMEs along with the DFC.

Canada will finance Ukraine’s rural population’s business initiatives, and Piraeus Bank will support Ukrainian SMEs along with the DFC. The Ministry of Agrarian Policy, the Canadian NGO SOCODEVI, and the Dnipropetrovsk Regional Public Organization will cooperate to develop entrepreneurship for the rural population that has been affect...

Due to inflation, the key rate in Ukraine was increased from 13% to 13.5%.

Due to inflation, the key rate in Ukraine was increased from 13% to 13.5%. The Board of the National Bank of Ukraine increased the discount rate to 13.5% per annum. This takes place after inflation accelerated to 11.2% per annum in November. It is noted that the inflationary...

Wednesday, December 11

Ukraine will continue to receive financial assistance from the countries with which it has signed security agreements.

Ukraine will continue to receive financial assistance from the countries with which it has signed security agreements. As stated by the Deputy Head of the Office of the President of Ukraine, Ihor Zhovkva, leaders from the countries that have signed security cooperation agreements with Ukraine confirm that they will pr...

Poland is calling on Germany to immediately increase defense spending, while France is ramping up purchases of long-range weapons.

Poland is calling on Germany to immediately increase defense spending, while France is ramping up purchases of long-range weapons. Poland’s Deputy Defense Minister Cezary Tomczyk believes that Central Europe, including Germany, should increase its defense spending to set an example for other countries following Trump’s victory, w...

Russia’s oil export revenue is growing, allowing it to finance its war in Ukraine.

Russia’s oil export revenue is growing, allowing it to finance its war in Ukraine. According to KSE analysis, in October 2024, Russia’s oil export revenue increased by $1.2B, to $15.6B. 85% of deliveries were made by shadow tankers, which allowed Russia to evade the price limi...

Tuesday, December 10

Ukraine might receive less aid from the US after Trump’s inauguration, but Russia is also running out of money.

Ukraine might receive less aid from the US after Trump’s inauguration, but Russia is also running out of money. US President-Elect Donald Trump said that he will try to end Russia’s war against Ukraine. At the same time, Ukraine will probably receive less aid after he takes office. Meanwhile, Russia may l...

Ukraine has approved the terms to receive a 40-year $20B loan secured by frozen Russian assets.

Ukraine has approved the terms to receive a 40-year $20B loan secured by frozen Russian assets. The Cabinet of Ministers has approved the terms of receiving a 40-year loan of up to $20B from the American Federal Financing Bank (FFB). This is part of the previously agreed upon G7 initiative to pr...

The EU defense commissioner wants to increase EU defense spending by 900%.

The EU defense commissioner wants to increase EU defense spending by 900%. EU defense and space commissioner Andrius Kubilius wants the next seven-year EU budget to include around €100B for defense needs. The current seven-year EU budget, which exceeds €1T, only includes €10...

Monday, December 9

The Ministry of Finance states that Ukraine has the resources to fight Russia in 2025.

The Ministry of Finance states that Ukraine has the resources to fight Russia in 2025. Although European allies are concerned that the US will cease providing aid to Kyiv after Donald Trump enters office, the EU is confident that Ukraine will soon receive a $50B loan to be repaid with p...

Friday, December 6

Ukraine’s international reserves increased by 9.1% in November to $39.92B.

Ukraine’s international reserves increased by 9.1% in November to $39.92B. The National Bank explains that this dynamic is due, on the one hand, to significant volumes received from international partners and, on the other hand, to a decrease in the volume of net currency sa...

Since the start of the full-scale invasion, Ukraine has received $105.9B in financial assistance.

Since the start of the full-scale invasion, Ukraine has received $105.9B in financial assistance. The budget needs for this year have been covered, the Finance Committee of Parliament reported. The EU was the largest donor with $40.54B, the US came in second with $29.78B, and the IMF also provided...

The EU is ready to fill in for the US if it withdraws from its $50B G7 loan agreement.

The EU is ready to fill in for the US if it withdraws from its $50B G7 loan agreement. The European Union is prepared to financially compensate for the potential loss of the US’ contribution in the G7 agreement to provide Ukraine with a $50B loan. Politico quotes Polish Deputy Fin...

Thursday, December 5

Ukraine will receive up to €35B from the EU as part of the $50B G7 loan secured by frozen Russian assets.

Ukraine will receive up to €35B from the EU as part of the $50B G7 loan secured by frozen Russian assets. Ukrainian Finance Minister Serhiy Marchenko signed a memorandum and a loan agreement with the EU to receive up to €35B in macro-financial assistance (MFA). These funds are part of the G7 initiative to...

Banks’ hryvnia deposit portfolios have grown by ₴100B this year, or almost 7%.

Banks’ hryvnia deposit portfolios have grown by ₴100B this year, or almost 7%. According to Deputy Chairman of the NBU Serhiy Nikolaychuk, since the beginning of the full-scale invasion the increase has exceeded ₴830B (+90%). At the same time, 56% of customers’ hryvnia cur...

Wednesday, December 4

Ukraine will not have to repay the $50B G7 loan until it receives reparations from the Russian Federation.

Ukraine will not have to repay the $50B G7 loan until it receives reparations from the Russian Federation. Ukrainian parliament members approved amendments to the Budget Code, which introduced a new concept in the budgetary sphere – conditional debt obligations. This establishes a special status for funds ...

How strong will the hryvnia end the year against the dollar?

How strong will the hryvnia end the year against the dollar? In the last week of November, the NBU allowed the hryvnia to weaken to a new record low of ₴41.60 per $1, according to ICU. The total foreign exchange deficit last week increased due to increased dema...

Monday, December 2

Ukraine will receive $22B from frozen Russian assets next year.

Ukraine will receive $22B from frozen Russian assets next year. Of the $50B planned to be provided to Ukraine from frozen Russian assets, the first tranche of $22B will be transferred in 2025, and the remaining funds will be received in 2026-2027, said Finance Min...

Zelenskyy signs tax increases into law: How much more will the budget receive?

Zelenskyy signs tax increases into law: How much more will the budget receive? President Volodymyr Zelenskyy signed a law on tax increases that are necessary to finance defense spending. The increases came into force on December 1. The total tax increases in 2024 will be about ₴...

Friday, November 29

Even under a baseline scenario, Ukraine’s public debt will exceed 100% of GDP.

Even under a baseline scenario, Ukraine’s public debt will exceed 100% of GDP. Ukraine’s public debt is already approaching 100% of GDP, and financing needs for recovery are currently around $600B. Even under the baseline scenario, the peak value of public debt is 103.9% of GDP,...

Thursday, November 28

The US promises to provide Ukraine with everything it needs to fight Russia in 2025; the G7 works to finalize its $50B loan.

The US promises to provide Ukraine with everything it needs to fight Russia in 2025; the G7 works to finalize its $50B loan. US Secretary of State Antony Blinken said that the G7 countries and their partners are determined to provide Ukraine with everything it needs to successfully conduct military operations in 2025 or hol...

What financial support have international partners promised Ukraine in the coming years, and will this be enough to repel Russian aggression?

What financial support have international partners promised Ukraine in the coming years, and will this be enough to repel Russian aggression? The agreements already concluded by Ukraine with its allies give grounds for optimistic expectations regarding the external financing deficit in 2025 being covered, analysts noted. In 2025, the Ukrain...

Piraeus Bank opened its fifteenth branch in Zhytomyr as part of its strategy to expand its network across Ukraine.

Piraeus Bank opened its fifteenth branch in Zhytomyr as part of its strategy to expand its network across Ukraine. Despite the war’s challenges, Piraeus Bank remains a reliable partner for Ukrainian businesses with over 100 years of history and steadfast European values. This marks the fifteenth branch openi...

Wednesday, November 27

The hryvnia continues to weaken under the National Bank’s control.

The hryvnia continues to weaken under the National Bank’s control. Last week, the National Bank kept the intervention volume below this year’s average weekly figure. It allowed the hryvnia exchange rate to weaken slightly. The market’s total foreign excha...

The US has provided another $40M in lending guarantees for Ukrainian businesses.

The US has provided another $40M in lending guarantees for Ukrainian businesses. The US Development Finance Corporation (DFC) and USAID have signed an agreement with Lviv Bank to provide $40M in portfolio guarantees. The agreement enables Ukrainian entrepreneurs to receive loans o...

The ECA insures an investment project for a Ukrainian food manufacturer, providing ₴92M in coverage against war risks.

The ECA insures an investment project for a Ukrainian food manufacturer, providing ₴92M in coverage against war risks. The Export Credit Agency has insured the second project against war risks for an amount of ₴92M. The project is being implemented by a private enterprise, Vilis, which produces pasta and apple jam. Th...

Ukraine’s EU allies are allocating hundreds of millions for energy and military support.

Ukraine’s EU allies are allocating hundreds of millions for energy and military support. On December 4, the EBRD will approve a loan of up to €180M to Ukrzaliznytsia to finance the purchase and installation of equipment for small gas-fired generation with a total capacity of up to 270 MW....

Tuesday, November 26

The EU and the US will provide $112M to the Ukrainian to the private energy holding to restore infrastructure.

The EU and the US will provide $112M to the Ukrainian to the private energy holding to restore infrastructure. The EC is providing €62.8M to the DTEK energy company for equipment and materials needed to restore generation capacity after Russian attacks, and the US government is providing $46.1M to purchase con...

Last year, financial and industrial groups in Ukraine earned almost ₴6T.

Last year, financial and industrial groups in Ukraine earned almost ₴6T. 23,300 companies that are part of Ukrainian financial and industrial groups (FIG) and submitted financial statements for 2023 collectively earned ₴5.8T, according to a YouControl study. As of October,...

Monday, November 25

UN climate summit approves $300B in annual funding for developing countries.

UN climate summit approves $300B in annual funding for developing countries. Countries in attendance at the COP-29 UN climate summit have agreed on a new collective climate financing deal. Wealthy countries have pledged to provide poorer countries with $300B annually by 2035 t...

The Netherlands will provide grants of up to €4M to joint Ukrainian recovery ventures.

The Netherlands will provide grants of up to €4M to joint Ukrainian recovery ventures. The Netherlands Enterprise Agency (RVO) has launched a partnership program with Ukraine to restore the Ukrainian economy. In particular, a subsidy program will support Dutch companies and civil societ...

Friday, November 22

The Biden administration plans to cancel over $4.6B of Ukraine’s debt.

The Biden administration plans to cancel over $4.6B of Ukraine’s debt. US President Joe Biden submitted a statement to the US Congress stating his intention to forgive half of Ukraine’s debt for economic assistance that was received as a loan. State Department spok...

International financial institutions will create $210M in risk-sharing mechanisms for Ukrainian enterprises.

International financial institutions will create $210M in risk-sharing mechanisms for Ukrainian enterprises. The IFC, the DFC, and Raiffeisen Bank Ukraine will create two risk-sharing mechanisms for Ukrainian enterprises worth $210M. Assistance will be allocated to small, medium, and large companies in Ukrai...

The largest EU economies will issue joint defense bonds to stop the Russian Federation’s “imperial ambitions.”

The largest EU economies will issue joint defense bonds to stop the Russian Federation’s “imperial ambitions.” During a meeting of heads of foreign affairs from five EU countries, Germany, France, Italy, Spain, and Poland gave their support to a proposal to create joint European defense bonds to strengthen the...

How have relocated Ukrainian businesses affected their new regions financially?

How have relocated Ukrainian businesses affected their new regions financially? Since the beginning of the full-scale war in Ukraine, an enterprise relocation program has existed. For the regions where these companies have moved, this means additional jobs and tax revenue. Accord...

Thursday, November 21

The EU will spend the revenue from frozen Russian assets on armaments for Ukraine.

The EU will spend the revenue from frozen Russian assets on armaments for Ukraine. The head of EU diplomacy, Josep Borrell, proposed directing a significant part of the future second tranche of revenue from frozen Russian assets to the Ukrainian defense industry. According to Borrel...

The NBU lifts some currency restrictions to support foreign trade and international technical assistance programs.

The NBU lifts some currency restrictions to support foreign trade and international technical assistance programs. On November 20, the National Bank made changes to currency restrictions. “On the one hand, the NBU eased several restrictions to support international cooperation in foreign trade and internatio...

The ruble has collapsed, and refineries are standing still: How is the Russian economy surviving as the third year of the war approaches?

The ruble has collapsed, and refineries are standing still: How is the Russian economy surviving as the third year of the war approaches? Almost all the available Russian economic resources have already been used, and the country finds itself in a unprecedented situation. The unemployment rate has fallen to a historic low of 2.4%, and t...

Tuesday, November 19

State banks are displacing their competitors: How much did financial institutions earn in three quarters of the year?

State banks are displacing their competitors: How much did financial institutions earn in three quarters of the year? After paying taxes, 62 Ukrainian banks generated ₴117.63B ($2.8B) in profit for the first nine months of the year. Even though the banking sector’s tax rate increased significantly this year, to...

The hryvnia’s fate: Experts provide their forecasts.

The hryvnia’s fate: Experts provide their forecasts. Bankers, households, and financial analysts expect the dollar to the hryvnia exchange rate to rise over the next 12 months. Banks predict that the exchange rate will be ₴44.92 per $1, which is higher ...

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