Banks forecast a decrease in deposit rates, but Ukrainians keep increasing their balances. Most financial institutions expect a decrease in the amount of deposited funds in the fourth quarter of 2023, according to the survey by the NBU. Instead, third quarter data shows an increase in house... #BankDepositsinUkraine #DepositGuaranteeFund #financeUkraine #nbu
Bankers predict that in 2024 businesses will need ₴100-150B under the State Program Affordable Loans at 5-7-9%. Bankers think that this demand will be observed from small and medium-sized businesses. It is assumed that, depending on the interest rate, the loan amount, etc., that in 2024 the potential number of ... #5-7-9loanprogram #AffordableLoansUkraine #BankLoans #financeUkraine
Germany’s budget lacks vital aid for Ukraine. As Bild writes, in the draft budget for 2024 German Minister of Finance Christian Lindner has set aside only a small amount to help Ukraine. In this regard, the Federal Ministry of Defense has called ... #AndreasSchwartz #ChristianLindner #GermanyAidforUkraine #GermanyBudget #MilitaryAidforUkraine
The Russian Federation forced the EBRD to sell its stake in the Moscow Stock Exchange for 30% of its value. Russian Forbes reported that the EBRD sold its 5.3% stake in the Moscow Stock Exchange, receiving only a third of its market value – ₽7.28B ($76.3M), instead of ₽22.8B. The bank had to agree to ... #ebrd #MoscowStockExchange #SoftlineIT
Demand for loans is recovering in Ukraine. In the third quarter, banks recorded increased demand for commercial and individual hryvnia loans, the NBU reports. Most banks expect further commercial and retail loan portfolio growth in the next 12... #BankLoans #CreditPortfolio #financeUkraine #nbu
Ukrainian agricultural holding will receive $480M in loans for debt refinancing and other needs. The IFC, EBRD, and DFC will provide Ukrainian agricultural holding MHP with $480M for debt refinancing and maintenance of current activities. As reported by the IFC, it will provide $30M for the moder... #agroUkraine #DFC #ebrd #ifc #MHPukraine
Since introducing the “Google tax” in Ukraine, the state budget has received ₴10.2B. According to a special committee of the Ukrainian Parliament, 98 non-resident providers of digital services have paid this tax in Ukraine. They paid ₴4.3B in 2022 and ₴5.9B in 2023 (as of October 1). ... #Google #GoogleTax #OnlyFans #TaxesinUkraine #UkraineBudget
Canada will create an international precedent to confiscate Russian sovereign assets. In the upper house of the Canadian Parliament, the procedure for considering the draft law on seizing sovereign assets belonging to offending states, including Russia, has begun. “The proposed d... #RatnaOmidvar #ReparationsForUkraine #RussianAssets #RussianAssetsArrested
Bankers lower their expectations for the hryvnia to dollar exchange rate for the next year. Bankers, financial analysts, business managers, and private individuals predict that the exchange rate will be close to ₴40/$1 or higher in the next 12 months, reported the NBU. In October 2023, finan... #dollarexchangerate #financeUkraine #Hryvnia #nbu #SerhiiNikolaychuk
International financial organizations will use the State Digital Recovery Management System to monitor reconstruction. The World Bank, the EBRD, the EIB, and the Development Bank of the Council of Europe agreed on a joint approach to procurement in Ukraine. According to the Ministry of Infrastructure, the correspondin... #DREAM #OleksandrKubrakov #ProZorro #UkraineReconstruction
The European Parliament has supported the creation of a €50B Ukrainian Fund. At the plenary session of the European Parliament in Strasbourg, the deputies overwhelmingly supported the proposals for creating the Ukrainian Fund in the first reading. The fund should include €50B ... #EFFprogram #EuropeanParliament #financialaidforUkraine #MichaelGahler #SupportUkraine
The EU is negotiating with Hungary to unblock aid to Ukraine. As Reuters writes, the EU and Hungary expect to agree on financial assistance for Kyiv by the end of November. Hungary’s financing from EU funds can be restored by the end of November, a represe... #EUaidforUkraine #financialaidforUkraine #Hungary
Ukraine has fulfilled its IMF and EU requirements and strengthened control over the expenses of politically exposed persons, and moves toward another beacon. In the second reading, the Ukrainian Parliament supported draft law No. 9296-d on strengthening financial monitoring of politically exposed persons (PEP). The document’s main innovation is that top of... #imf #IMFStructuralBeacons #PEP #ReformsinUkraine
Even after victory, Ukraine will need international aid to survive. As Minister of Finance Serhiy Marchenko said, two fundamental ways to reduce this dependence in Ukraine are increasing economic output and winning the war. “But increasing the domestic market vo... #financialaidforUkraine #SerhiyMarchenko #SupportUkraine #UkraineEconomy #UkraineRecovery
Ukrainians hold more than $100B in cash. The total amount of cash savings belonging to consumers and businesses in foreign currency outside banks in Ukraine is $116B, NBU Council member Bohdan Danylyshyn said. “Households and businesse... #AssetsOfUkrainians #CashCurrency #financeUkraine #nbu #ukraineassets
The largest chicken exporter in Ukraine has received a $250M loan from the DFC. The US International Development Finance Corporation granted the Ukrainian agricultural holding MHP a loan to refinance existing debt, support the company’s current operations, and reimburse war... #ChickenProduction #DFC #MHPukraine #Superhumans #USAID
The US and Ukraine will insist on European confiscation of the accrued interest on frozen Russian assets. This week in Luxembourg, US Treasury Secretary Janet Yellen intends to encourage European officials to take concrete steps to confiscate accrued interest on $200B that Russia keeps in European banks. ... #AndriiPyshnyi #JanetYellen #RussianAssets #RussianAssetsArrested #UkraineRecovery
The mortgage lending market has picked up in Ukraine. In August, Ukrainian banking institutions issued 626 mortgage loans for a total amount of ₴900.9M, the NBU reported. In August, the volume of loans granted to consumers increased by 2.6% compared to J... #eOselya #MortgageProgram #MortgagesUkraine #nbu
The G7 countries have frozen $280B in Russian assets, and Estonia and Britain are preparing to use them. In a joint statement, the G7’s financial bloc pledged to freeze Russia’s assets until it compensates for the losses it’s caused to Ukraine through the war. A working group assigned to quantify f... #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #UkraineReconstruction #WarinUkraine
The EU will provide Ukraine with €4.5B by the end of the year, while Ukraine hopes for another $2.3B from the US. The EU has become Ukraine’s largest donor in 2023, with €13.5B already allocated as part of a macro-financial aid instrument, and expects to provide additional funding for the Ukrainian budget b... #DenysShmyhal #financialaidforUkraine #PaoloGentiloni #SupportUkraine #UkraineBudget
Ukraine asks the OECD to lower its country risk classification group to halve the cost of investment insurance. The Ministry of Economy, with the participation of Advantage Ukraine, is conducting active negotiations with export credit agencies (ECAs) in partner countries, emphasizing the importance of applying ... #InsuranceUkraine #InvestmentsinUkraine #MilitaryRiskInsurance #OECD #VolodymyrKuzyo
Ukraine’s external financing needs in 2024 are $3B higher than previous estimates. Ukraine has shown outstanding results in the country’s economic management during the war, but its needs in external financing in 2024 will be $3B more, and it is necessary to help Ukraine cope ... #EFFprogram #imf #KristalinaGeorgieva #UkraineEconomy #UkraineRecovery
The IMF will allocate $900M to Ukraine at the end of 2023, but there are conditions. IMF Director Kristalina Georgieva stated that this financing will take place under the Enhanced Funding Program (EFF). “In June, we completed the first review of this program, bringing the IMF&#... #EFFprogram #financialaidforUkraine #imf #IMFprogramm #KristalinaGeorgieva
Due to uncertainty of further US support, Yellen approves the EU’s plan to tax the Russian Federation’s frozen assets. US Treasury Secretary Janet Yellen strongly supported the EU’s plan to introduce a windfall tax on frozen Russian assets. This step will stimulate the attraction of new funds to support Ukraine.... #JanetYellen #RussianAssets #RussianAssetsArrested #USbudget #USsupportsUkraine
Belgium will create a €1.7B fund from revenues obtained through frozen Russian assets. As reported by the Prime Minister of Belgium, Alexander De Croo, the proceeds from taxes on income from frozen Russian assets will be credited to the fund. “Here in Belgium, we have taxation on ... #AlexanderDeCroo #RussianAssets #RussianAssetsArrested #SupportUkraine #Zelenskyy
The IMF has returned Ukraine to its long-term economic forecast and improved expectations for GDP growth. After the beginning of the full-scale Russian invasion in February 2022, the IMF only gave a forecast for the current year in its World Economic Outlook. Now, estimates for Ukraine for 2024-2028 are i... #GDPinUkraine #IMFforecast #InflationinUkraine #UkraineEconomy
MIGA has provided Ukraine with almost $200M in guarantees. Since the beginning of the Russian invasion, MIGA has provided Ukraine with guarantees totaling $196M, noted Minister of Finance Serhiy Marchenko. Also, MIGA contributed to creating the SURE war risk ... #MIGA #MilitaryRiskInsurance #SerhiyMarchenko #SURE
The IMF has assessed Ukraine’s implementation of the memorandum program: what else needs to be done? According to the head of the IMF mission, Gavin Gray, Ukraine first must adopt the new gas transportation system operator statute. Secondly, it is still waiting for resolution on the issue of business... #BudgetCodeUkraine #GavinGray #imf #IMFprogramforUkraine #ReformsinUkraine
The IMF advises Ukraine to optimize tax collection against a possible decrease in international financial support. As the head of the IMF mission, Gavin Gray, noted, this should be considered because the need to finance social expenditures will increase after the war’s end. “That’s why the author... #financialaidforUkraine #GavinGray #imf #ReformsinUkraine #TaxesUkraine
Military bonds in September brought the budget ₴23B. According to the Ministry of Finance, about ₴185B in military bonds were issued in the nine full months of the year. As of the end of September, Ukrainian citizens owned military bonds worth about ₴25... #BondSalesUkraine #financeUkraine #UkraineBond #UkraineBudget #Ukrainemilitarybonds
Ukraine has started consultations to restructure the $20B state debt. As Reuters writes, preliminary consultations with foreign bondholders regarding the restructuring of payments began ahead of schedule and have been going on for several weeks. Talks with bondholders w... #DebtRestructuring #GavinGray #imf #UkraineBond #ukrainedebt
The US is discussing a $100B aid package, its largest, and will work to convince the IMF and the World Bank to maintain financial support for Ukraine. US President Joe Biden plans to ask Congress to approve $100B for the largest package of military and humanitarian aid to Ukraine, which should be enough for about two years. According to The Telegrap... #JanetYellen #JoeBiden #MilitaryAidforUkraine #SupportUkraine #USaidforUkraine #WarinUkraine
Ukraine receiving $115B in aid from its partners depends on an IMF program. According to the head of the NBU, Andriy Pyshnyi, implementing the IMF program will provide financial assistance of $15.6B and be critical for obtaining $115B in financing from partners over the next ... #AndriiPyshnyi #financialaidforUkraine #imf #IMFprogramforUkraine #SupportUkraine
This year, the DFC financed three projects in Ukraine for $110M. The cooperation between Ukrainian companies and banks with the American International Development Finance Corporation (DFC), on the one hand, increases the stability of the Ukrainian economy and, on t... #BusinessInvestments #DFC #financialaidforUkraine #InvestmentsinUkraine #YuliyaSvyridenko
The World Bank has improved its economic forecast for Ukraine. The World Bank forecasts Ukraine’s GDP to grow by 3.5% in 2023 and 4% in 2024, which is 1.5 and 0.5 percentage points higher than its June estimates, according to the updated economic forecast f... #GDPinUkraine #UkraineEconomicForecast #UkraineEconomy #worldbank
The US and the EU are preparing to transfer confiscated assets of the Russian Federation to Ukraine. The United States is working with European allies and partners to create the necessary legal framework for the use of seized Russian assets for Ukrainian reconstruction projects, US Secretary of State... #AnthonyBlinken #RussianAssets #RussianAssetsConfiscation #UkraineRecovery
Aid from Ukraine’s partners has entered a zone of uncertainty. Hungary proposed to divide the €50B EU aid package to Ukraine over four years. Last week, Hungary told the members of the Euro bloc that €25B will be enough for Ukraine at this time. Now, in the middl... #JohnKirby #KevinMcCarthy #SupportUkraine #VictorOrban #WarinUkraine
After joining the EU, Ukraine will be entitled to €186B in aid. As the FT writes, this amount could be allocated to Ukraine within seven years. Calculations by the General Secretariat of the Council of Europe, a body representing the governments of the bloc’... #EUbudget #EUexpansion #UkraineEU
The NBU will revise its 2023 forecasts for GDP and inflation toward improvement. As the Deputy Chairman of the NBU, Serhii Nikolaychuk, noted, the situation in the agricultural sector has contributed to the positive changes. “In recent months, inflation has been falling more... #GDPinUkraine #InflationinUkraine #nbu #SerhiiNikolaychuk #UkraineEconomy
Ukraine is working with the US and UK to reduce the insurance cost for cargo owners moving through the maritime corridor. Completely restoring the entire operation of Ukraine’s deep-sea ports is the fastest way to improve the economic situation, said Minister of Infrastructure Oleksandr Kubrakov. “In this cas... #BlackSeaCorridor #MilitaryInsurance #OleksandrKubrakov #UkrainianShipInsurance #ВідвантаженнятоварівУкраїна
The IMF positively assesses Ukraine’s implementation of the EFF program. According to Uma Ramakrishnan, Deputy Director of the European Department of the IMF, the IMF will continue interacting with the Ukrainian authorities in the coming weeks for the second review of the ... #EFFprogram #imf #IMFprogramm #UmaRamakrishnan
The EBRD wants to invest about €1.5B in Ukraine annually. For this purpose, the European Bank for Reconstruction and Development is working on a plan to increase its capital, EBRD President Odile Renaud-Basso said. The bank said in May that it plans to ask s... #ebrd #InvestmentsinUkraine #OdileRenaudBasso #UkraineEconomy
Ukrenergo seeks up to a $200M loan from the EBRD to pay its debts to RES producers. According to the chairman of the Ukrainian Renewable Energy Association board, Stanislav Ignatyev, there are debts between state-owned energy enterprises. In particular, the system operator Ukrenergo ... #EBRDloan #GreenEnergyUkraine #GuaranteedBuyer #Ukrenergo
The Pentagon can only finance Ukraine for half a year: there is $5.2B left, and the money will run out. The WSJ writes that the Pentagon’s coffers have $5.2B left to provide military aid for Ukraine. If the current speed of support is maintained, this will be enough for about half a year. “T... #MilitaryAidforUkraine #Pentagon #SupportUkraine #USbudget #WarinUkraine
The European Parliament approves amendments to the EU budget and supports the allocation of €50B to Ukraine. The European Parliament adopted a resolution in support of the European Commission’s proposals for revising the EU multi-year budget for 2021-2027 and creating a special Ukrainian fund. The reso... #DenysShmyhal #EUbudget #EUparliament #EUprogramForUkraine #financialaidforUkraine
Brussels will unfreeze €13B for Hungary to help Ukraine. The European Commission is preparing to release about €13B in EU funds by the end of November. This step will ensure Budapest’s support in increasing the bloc’s budget and providing signif... #Hungary #OTPbank #SupportUkraine #VictorOrban
This year, the sale of state debt securities replenished the budget with ₴400B. In the nine full months of the year, the Ukrainian government raised almost ₴400B ($11B) in equivalent from the placement of OVDP bonds at auctions. In total, more than ₴650B has been raised during ma... #financeUkraine #MilitaryBond #nbu #UkraineBond #UkraineBudget
Borrell proposes an additional €20B in military support for Ukraine and a four-year program for €50B. During his visit to Kyiv, EU High Representative Josep Borrell said that the EU has provided Ukraine with €25B of military support, and the total aid amounts to €85B. He also emphasized that the EU wi... #EUmilitaryAid #EUprogramForUkraine #EuropeanPeaceFund #EUsupportforUkraine #JosepBorrell
Funds raised from privatization have reached a five-year record. Over nine months, the State Property Fund attracted ₴2.7B to the state budget from privatization. This is the highest figure since 2018. So, in the previous five years, on average, privatization broug... #PrivatizationUkraine #StatePropertyFund #UkrainianEnterprises
France will insure its companies against war risk in Ukraine. The French state insurance company Bpifrance Assurance Export will insure companies ready to participate in the reconstruction of Ukraine even before the end of the war, the Ministry of Economy report... #Bpifrance #InsuranceUkraine #InvestmentsinUkraine #MilitaryRiskInsurance
