The EBRD invested €3.8B in Ukraine over two years, exceeding its target. In 2023, the EBRD directed a record amount of €2.1B to Ukraine, and in 2022 – €1.7B. The largest institutional investor in Ukraine, which significantly increased investment after the invasion of... #ebrd #investments #InvestmentsinUkraine #UkraineReconstruction
The US will provide Ukraine with about $12B in budget support. On January 23, US Treasury Secretary Janet Yellen assured Ukrainian Prime Minister Denys Shmyhal that the Biden administration plans to provide Ukraine with $11.8B in budgetary support for $11.8B as p... #DenysShmyhal #JanetYellen #SupportUkraine #UkraineBudget2024 #USaidforUkraine #USsenate
The Ministry of Finance raises ₴2.5B less from the sale of government bonds than a week earlier. At primary auctions on January 23, the agency placed OVDP in the amount of ₴6B, a week earlier, it was ₴8.51B. ₴289.33M was received from the sale of annual bonds at 16.8% per annum, ₴1.64B from bonds... #financeUkraine #OVDPselling #UkraineBond
EU countries reach a political agreement on the use of frozen Russian assets. The EU member states have a political consensus to use the profits from the Russian Federation’s frozen assets, said the high representative of the EU, Josep Borrell, after the Council of the EU meeti... #JosepBorrell #RikardJozwiak #RussianAssets #RussianAssetsConfiscation
Experts have recognized the “harm” of currency restrictions in Ukraine for economic recovery. Currency restrictions made sense at the beginning of the war in order to maintain economic stability, but now these restrictions only hold back the development of the economy and the attraction of pot... #CurrencyRestrictions #financeUkraine #InvestmentsinUkraine #UkraineEconomy
Russia threatens the West with $288B in losses for blocking its assets. Russian propaganda media have calculated that Western companies may lose $288B in response to the confiscation of Russian assets. The G7 leaders will agree to develop a stronger statement of intent to... #G7 #investments #RussianAssets #RussianAssetsArrested #RussianEconomy
The EU can allocate €6-€8B a year to Ukraine from revenues sourced from frozen Russian assets. The Ukrainian ambassador to the EU, Vsevolod Chentsov, said that the EU has about €200B out of the total €300B of frozen Russian assets. It is difficult to transfer the assets outright to Ukraine, owi... #ReparationsForUkraine #RussianAssetsConfiscation #RussianCentralBank #VsevolodChentsov
Ukrainian businesses go into standby mode, taking fewer loans and increasing reserves to record levels. According to the NBU, in 2023 the volume of loans granted to legal entities decreased by 2% to ₴757.5B. If compared with the pre-war period, the reduction is 10 times as large. In 2022, corporate borr... #LoansforBusiness #nbu #UkraineBusinessActivity #бізнесвУкраїні
Ukraine’s reconstruction bank will be launched in six months. A Ukraine reconstruction bank being set up by Kyiv with help from BlackRock and JPMorgan Chase has at least $500M in committed capital and could be ready to launch in five to six months with close to ... #BlackRock #JPmorgan #PennyPritzker #PhilippHildebrand #RostyslavShurma #UkraineReconstructionBank
The EBRD calls for continued financial support for Ukraine and will invest up to €15B. Ukraine needs financial and military support so that Kyiv does not return to printing money to keep its economy afloat, EBRD Chief Economist Beata Javorcik said. According to her, the economic situati... #BeataJavorcik #ebrd #financialaidforUkraine #SupportUkraine #UrsulavonderLeyen
The Ministry of Finance received ₴552B from the sale of bonds; Ukrainians have doubled their investments in OVDP. Since the beginning of martial law, it has been possible to attract more than ₴1.2T to the state budget by issuing OVDP bonds. The government raised ₴552.6B ($14.5B) in 2023. The Ministry of Finance n... #Bondssale #financeUkraine #nbu #OVDPselling #UkraineBond
Ukraine can attract $300B through reparation bonds as a backup plan. Ukraine can raise about $300B by selling bonds secured by future lawsuits against Russia for compensation for the damage it has caused during military operations. “Kyiv will be able to receive this am... #Bonds #DaleepSingh #ReparationsForUkraine #RussianAssets
The US will agree to an aid package to Ukraine sooner than transferring frozen Russian assets. The Ambassador of Ukraine to the US, Oksana Markarova, said that the priority for the Embassy of Ukraine is the approval by the US Congress of a $61B aid package. She noted that Ukraine continues rece... #OksanaMarkarova #RussianAssetsConfiscation #SupportUkraine #USaidforUkraine
The National Bank predicts that loans will become cheaper. After the discount rate’s reduction to 15% in December, loans in Ukraine are likely to become cheaper, according to Deputy Chairman of the NBU Serhiy Nikolaychuk. As he explained, loan rates depend ma... #financeUkraine #LoansUkraine #nbu #SerhiiNikolaychuk #UkraineDeposits
The IMF is assessing the impact of the confiscation of Russian assets on the international financial system, and Russia is preparing its case for the courts. The top manager of the IMF, Julia Kozak, noted that the fund believes that decisions on the confiscation of Russian assets should be made by the countries where the frozen funds of the Russian Federat... #imf #JuliaKozak #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
The EU is close to approving €50B in financial aid to Ukraine, and the money may arrive in the first quarter. EU ambassadors approved a “partial negotiating mandate” for a proposal to create a single specialized instrument to support Ukraine’s recovery, reconstruction, and modernization whil... #EUbudget #EUfinancialAid #HungaryVeto #UkraineFacility
The NBU is considering additional taxation of non-critical imports. In response to the risk of reduced international support, through which a high foreign trade deficit is being financed during wartime conditions, it is worth considering the possibility of limiting no... #nbu #SerhiiNikolaychuk #UkraineBudget #UkraineImport #UkraineTrade #Ukrainetradedeficit
In Ukraine, the yield on deposits has increased, but loans have become more expensive. In December 2023, the average bank interest rate on new consumer hryvnia deposits amounted to 11.7% per annum. A year ago, the figure was 8.2%, NBU data shows. Rates on new consumer deposits in forei... #BankDepositsinUkraine #financeUkraine #HryvniaDeposits #LoansUkraine #nbu
The investment division of the World Bank has mobilized almost $1B to restore Ukraine’s private sector. According to the director of the International Financial Corporation (IFC), Makhtar Diop, $620M of the funds raised for Ukraine are part of the $2B package announced in December 2022. The funds are fr... #ifc #investments #InvestmentsinUkraine #MakhtarDiop
The EU is studying the possibility of transferring €15B in revenues from frozen Russian assets. As the FT points out, Belgium’s new responsibilities as the country currently holding the EU presidency may complicate the issue of using blocked Russian assets to help Ukraine. At the same time... #ReparationsForUkraine #RussianAssets #RussianAssetsArrested #RussianCentralBank
Privatization of state banks can start even before the end of the war. The privatization of state-controlled banks, whose number has increased to five and with a market shareof 56%, can be started even before the end of the war, according to the deputy head of the NBU, K... #KaterynaRozhkova #nbu #oschadbank #PrivatizationUkraine #UkraineBanksPrivatization #Ukrgasbank
ICU analysts provide a forecast for OVDP rates for the next six months. In the coming months, there will be no noticeable reduction in the rates for OVDP because this trend has already played out in the second half of 2023 in response to the gradual decrease in the NBU di... #BondsUkraine #financeUkraine #KeyPolicyRate #nbu #OVDPselling
14 export credit agencies provide guarantees to businesses for investment in Ukraine, said Prime Minister Denys Shmyhal. Ukraine, together with MIGA (The Multilateral Investment Guarantee Agency) and the DFC (The US International Development Finance Corporation), are implementing an in... #BlackSeaCorridor #DenysShmyhal #DFC #InsuranceUkraine #MIGA #UkrainianShipInsurance
The frozen assets belonging to the Russian Federation will cover 80% of Ukraine’s reconstruction needs. Minister of Foreign Affairs Dmytro Kuleba said that Ukraine will definitely receive money for post-war reconstruction from frozen Russian Federation assets. The minister hopes these funds will arrive ... #DmytroKuleba #EnvironmentalDamage #ReparationsForUkraine #RussianAssetsConfiscation #UkraineReconstruction #UkraineWarDamages
The NBU has summarized the war’s consequences for the Ukrainian economy. The full-scale invasion by the Russian Federation has caused a 30% loss of Ukraine’s GDP. Also, the forced exodus of Ukrainians in 2022 caused an increase in inflation, said the head of the Nati... #AndriiPyshnyi #GDPinUkraine #nbu #UkraineEconomy #WarinUkraine
State banks have begun to insure vessels that export goods through the sea corridor. State-owned Ukreximbank and Ukrgasbank, at the request of the Export Credit Agency, issued letters of credit for $10M each in favor of a pool of 14 British insurance companies to reduce the cost of in... #BlackSeaCorridor #ExportCreditAgency #InsuranceUkraine #UkrainianShipInsurance #Ukreximbank #Ukrgasbank
Biden urges Republicans to approve additional funding for Ukraine now that they have reached an agreement on 2024 government funding. At stake is about more than $60B in support for a war-torn country struggling to defend its land from Russia. “Now, Republicans in Congress must do their job, stop the threats, and fulfill their... #JoeBiden #USaidforUkraine #USbudget #UScongress
Ukraine takes a risk with tax collection rates higher than the pre-war period. Tax and interest deductions from the economy for 2022-2023 in Ukraine doubled. For example, tax revenues to the consolidated budget have increased by 110% over the past two years, thanks mainly to rev... #BohdanDanylyshyn #TaxesUkraine #UkraineBudget #UkraineEconomy
Security investments are gaining momentum in Ukraine: the number of investors has increased by 34%. According to the Settlement Center for Servicing Contracts in Financial Markets, registered investors in securities in Ukraine increased by 34%, or by 46,000, in 2023. The volume of operations with hr... #financeUkraine #investments #OVDPselling #ukrainebonds #UkraineSecurities
Even without unanimous agreement, the EC is working on a solution to provide €50B to Ukraine. EC President Ursula von der Leyen once again called for the speedy approval of the €50B, four-year Ukraine Facility aid plan within the medium-term review of the EU budget. The head of the European Co... #EuropeanCommission #EUsupportforUkraine #UkraineFacility #UrsulavonderLeyen
Due to the war, the share of non-performing business loans increased to 44%. According to the NBU, since the beginning of the full-scale invasion, the share of NPL in the banking sector had risen to 44% at the beginning of October 2023, and their volume reached ₴359B. “Two rea... #financeUkraine #LoansUkraine #nbu #NPL #NPLukraine
Ukraine’s European partners provide €750,000 in grants, and USAID AGRO pledges up to ₴270M in co-financing to elevator owners. 30 Ukrainian companies will receive grants of up to €25,000 to develop their business. These businesses work on innovative products and services or are actively expanding into exports. The winning com... #AgroBusinessUkraine #EU4Business #FarmersUkraine #GrantsForFarmers #USAID
What will the exchange rate be at the beginning of the year? At the start of 2024, the average exchange rate of the dollar may be in the range of ₴37.90-₴38.40, and the average exchange rate of the euro ₴42.10-₴42.60, analysts from the Center of Exchange Techno... #financeUkraine #hryvniaexchangerate #nbu #UkraineEconomy
The government approves the EU’s €50B Ukraine Facility plan. The Ukrainian government has approved a draft of the Ukraine Facility plan, according to which Ukraine should receive a €50B package of support from the EU that will be delivered during 2024-2027, Pri... #DenysShmyhal #EUsummit #financialaidforUkraine #SupportUkraine #UkraineFacility
Ukraine is strengthening the security of its maritime exports with the help of ship insurance and by reducing the military threat from Russia. Ukraine, the UK, and international insurance companies, with the participation of Marsh, an insurance broker that is part of Oliver Wyman, have created a special, unprecedented insurance mechanism for... #BlackSeaCorridor #GrainCorridors #MilitaryRiskInsurance #OliverWyman #UkrainianShipInsurance #ВідвантаженнятоварівУкраїна
Last year, the budget received more than ₴1.2 trillion in tax revenues. According to the State Tax Service, income (balance) to the consolidated budget in 2023 from taxes will amount to ₴1.213T. The Ministry of Finance of Ukraine’s budget indicators for the collected reve... #financeUkraine #TaxesinUkraine #UkraineBudget #UkraineBudgetRevenue
The IMF says it will help Ukraine attract additional revenues to its budget. The IMF is focused on supporting the work of the Ukrainian state and its social obligations, and not on the military sphere, said Alfred Kemmer, director of the European Department of the IMF. “... #AlfredKemmer #financialaidforUkraine #imf #UkraineBudget2024 #UkraineEconomy
More than €4B in Russian assets have been seized in Germany. As of the beginning of December 2023, the Ministry of Finance of Germany reported that due to Russia’s war against Ukraine, Germany has seized about €4.1B in Russian assets. It is noted that the... #JPmorgan #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
The NBU points to achievements in the financial market during the war. The National Bank has maintained exchange rate stability and switched to managed exchange rate flexibility, which will strengthen the economy and financial system’s adaptability and minimize the... #AndriiPyshnyi #CurrencyMarket #financeUkraine #nbu #UkraineBudget2024
The EU is developing a €20B contingency plan to finance Ukraine in 2024. An alternative scheme has emerged that involves member states providing guarantees to the EU budget, which would allow the European Commission to borrow up to €20B on the capital markets for Kyiv next... #EUfinancialAid #financialaidforUkraine #HungaryVeto #SupportUkraine #UkraineFacility
Preferential loans for businesses will cost the state ₴5B this year. The state’s debt to banks for interest compensation under the 5-7-9% Affordable Loans program will reach ₴5B by the end of the year, the head of the parliament’s finance committee, Danylo ... #5-7-9loanprogram #AffordableLoansUkraine #DanyloHetmantsev #financeUkraine #LoansUkraine
Taxes, customs, finance, and budget: the Ministry of Finance implemented 46% of all EU legal acts in Ukraine. The Ministry of Finance fully implemented 742 acts, 46% of the total number of acts of EU law implemented by Ukraine, preparing for negotiations to join the EU. The Ministry of Finance is responsible ... #EKrecommendation #EuropeanIntegration #ReformsinUkraine #UkraineCustoms #UkraineTaxSystem
The Minister of Finance summarized this year’s budget financing and outlined the prospects for the following years. In 2023, Ukraine attracted $42B through external financing just to cover budget needs and support a record amount of borrowing on the domestic market, Minister of Finance Serhiy Marchenko said. This a... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget2024 #UkraineEconomy #UkraineFacility
Ukrainian banks’ net profit has soared by almost 600%; financial institutions have earned more than ₴130B. According to the results from 11 months of the year, banks’ net profit (after tax) amounted to ₴130.55B. In November alone, this number was ₴7.85B, reported the head of the Committee on Financial Issu... #DanyloHetmantsev #TaxesinUkraine #UkraineBanksProfits #UkrainianBanks
The NBU is working on a new mechanism to insure military risk. The National Bank, together with the World Bank and the EBRD, is preparing a new mechanism to regulate military risk, which is planned to be presented no later than in the first quarter of 2024, the h... #AndriiPyshnyi #InsuranceUkraine #MilitaryRiskInsurance #nbu
The Ministry of Finance has postponed the repayment of Ukraine’s foreign debts, which will save up to $15B. Finance Minister Serhiy Marchenko signed an amendment to the Memorandum of Understanding that postpones state and state-guaranteed debt payments with a group of official creditors from the G7 and Pari... #nbu #SerhiyMarchenko #ukrainedebt #UkraineDebtRepayment
The financial stress index in Ukraine is high but stable, so the NBU predicts a further decrease in the key rate. The financial stress index, which measures the level of current threats in the sector, is at a high but stable level, the NBU said, presenting a report on financial stability. The report notes that al... #financeUkraine #KeyPolicyRate #nbu #UkraineBusinessExpectation
Ukraine launches Plan B due to delayed funding from Western allies. Finance Minister Serhii Marchenko noted that the ministry is confident of receiving Western aid in 2024 but not in January and February. The EU will consider financial assistance for Ukraine on Februa... #financeUkraine #financialaidforUkraine #SerhiyMarchenko #SupportUkraine #UkraineBudget2024
Ukraine received the last part of micro-financial aid from the EU for this year and €20M to support startups. What other help have international partners provided? The EU has sent the last €1.5B to Ukraine as part of the macro-financial aid package for 2023. The European Innovation Council will allocate €20M to support Ukrainian Deep Tech developments.About 200 ... #EUfinancialAid #financialaidforUkraine #GrantsForStartups #HOPEproject #SupportUkraine
Bankers forecast a 3% decrease in rates for deposits and loans in Ukraine in 2024. Under favorable economic, military, and political conditions in 2024, rates for bank loans and deposits may decrease by an average of 3%, according to the head of Globus Bank, Serhii Mamedov. He assum... #BankDepositsinUkraine #BankLoans #financeUkraine #GlobusBank #SerhiyMamedov #UkrainianBanks
