International banks will launch a mega-platform for investment in Ukraine. During URC2023, 19 international organizations led by the EBRD signed a memorandum on creating a platform for joint investments in Ukraine. The G7 development financing institutions agreed to develop ... #ConferenceLondon2023 #ebrd #EBRDinvestments #InvestmentsinUkraine #UkraineRecoveryConference
The EU is preparing a plan to transfer revenues from frozen Russian Federation assets to Ukraine. The President of the European Commission, Ursula von der Leyen, promised to present it before the “summer vacation” at the Conference on the Reconstruction of Ukraine in London. She noted ... #financialaidforUkraine #RussianAssets #RussianAssetsConfiscation #UkraineReconstruction #UkraineRecovery #UrsulavonderLeyen
The EU will provide Ukraine with a €50B, four-year financial support package, but there are conditions. This commitment will give Ukraine more certainty in its finances and should encourage other allies, primarily the US and Great Britain, to make similar long-term commitments. The money will be used to... #EUfinancialAid #financialaidforUkraine #UrsulavonderLeyen
BlackRock and JPMorgan will help Ukraine launch a recovery bank. The leading American investment companies, BlackRock and JPMorgan Chase, will help Ukraine to create the Fund for the Development of Ukraine – an investment bank for economic recovery after the ... #BlackRock #InvestmentsinUkraine #JPmorgan #RecoveryBankUkraine
The National Bank of Ukraine predicts an inflation slowdown in the coming months. In May, annualized consumer inflation slowed to 15.3% from 17.9% in April. In the future, price growth will not slow down as quickly, the NBU warns. It is expected that inflation will continue to slow... #InflationinUkraine #KakhovkaHPP #nbu #pricesinUkraine #UkraineEconomy
The EU is still working out a mechanism for using Russian assets for Ukraine. As a representative of the European Commission, Christian Wiegand, explained there are two different elements: private assets and state assets. The amount of frozen private assets is at a €24.1B equiv... #ChristianWiegand #RussianAssets #RussianAssetsConfiscation #RussianCentralBank #UkraineRecovery
The EBRD will support several sectors of Ukraine’s economy. EBRD president Odile Renaud-Basso said that several memoranda and projects will be signed into effect this week at a conference on Ukraine’s restoration – designed to strengthen energy security and su... #ebrd #InvestmentsinUkraine #KakhovkaHPP #OdileRenaudBasso #UkraineEconomy
Ukraine will receive over €10M from Slovenia and $205M in humanitarian aid from the US. Slovenia will send €200,000 to assist with remediation efforts related to the destruction of the Kakhovka HPP dam. In addition, Slovenia will contribute about €10.2M to the European support instrument... #AnthonyBlinken #financialaidforUkraine #KakhovkaHPP #SloveniaAidForUkraine #USaidforUkraine
The US Congress is preparing to confiscate Russian assets to assist Ukraine, and Estonia is the first in the EU to develop a legal confiscation mechanism. The corresponding draft act has been introduced by a bipartisan group of US senators, which primarily concerns the assets of the Central Bank of the Russian Federation. The document is entitled the Re... #ReconstructionUkraine #ReparationsForUkraine #REPOgroup #RussianAssets #RussianAssetsConfiscation
The World Bank’s fund has already collected $920M for Ukraine. The Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF) has already accumulated $920M and received new contributions from the governments of Iceland ($3.6M), Latvia (€2M), and the Ne... #ArupBanerjee #ReconstructionUkraine #UkraineRecovery #URTF #worldbank
In 2023, Ukraine received almost $20B in budget aid from its partners. The head of the Parliament’s budget committee, Roksolana Pidlasa, said that as of mid-June, the state budget’s general fund has received $19.8B from international partners. The share of external... #financialaidforUkraine #RoksolanaPidlasa #StateBudgetUkraine #StateDebtUkraine
Ukraine has eased currency restrictions to allow businesses to pay foreign loans. In particular, the National Bank allowed resident borrowers to transfer funds abroad to repay certain categories of external credits and loans. The NBU also determined that residents can carry out sim... #CurrencyRestrictions #financeUkraine #foreignloans #nbu #UkraineEconomy
The NBU leaves its key policy rate unchanged at 25%. Since June of last year, it has remained at 25% per annum. The National Bank believes that this decision will support the attractiveness of hryvnia instruments, contribute to the foreign exchange mark... #financeUkraine #foreignexchangemarket #KeyPolicyRate #nbu
Ukraine is preparing for the launch of the virtual asset market. The National Securities and Stock Market Commission presented a draft law regulating virtual asset turnover in Ukraine. The basis of the document is the MiCA EU Regulation (Markets in Crypto Assets), ... #MiCA #RuslanMagomedov #UkraineVirtualAssets #VirtualAssets
Financial analysts have improved their forecasts for Ukraine’s hryvnia exchange rate and inflation. According to the National Bank, financial analysts forecasted the hryvnia exchange rate for the next 12 months at UAH 39.54/$1 in June. In April, they were expecting an exchange rate of ₴40.04/$1. Ban... #CurrencySale #hryvniaexchangerate #InflationinUkraine #UkraineEconomy #UkraineFinances
The EIB will provide €100M in soft loans to Ukraine, and the EU will provide guarantees. According to the Delegation of the EU to Ukraine, these funds will be directed to Ukraine’s rapid recovery, and are allocated for the repair of municipal and energy infrastructure. It is reported that... #EIBloan #EUforUkraine #UkraineRecovery
Interest rates on deposits in Ukraine are increasing. In May, bank’s average interest rates on new hryvnia consumer deposits grew to 11.9% per annum from a month-earlier rate of 11.6%. According to the National Bank, rates for new deposits for the public... #BankDepositsinUkraine #DepositsInterestRate #nbu
NovaPay issued UAH 100M in debut open bonds. NovaPay Credit, part of the non-banking financial group NovaPay, registered a public issue of three-year series A bonds for UAH 100M ($2.73M). The securities can be purchased in terms ranging from 1 t... #BondSalesUkraine #NovaPay #NovaPayBonds #novaposhta #NovaPoshtaBonds
The World Bank will assess Ukraine’s losses from the Kakhovka HPP disaster. The bank will calculate Ukraine’s needs for the restoration of the hydroelectric plant, said the vice-president of the WB, Anna Bjerde. The analysis will be based on the Rapid Damage Assessment and Re... #AnnaBjerde #KakhovkaHPPdestruction #RafaelMarianoGrossi #WarLosses #worldbank
Ukraine has not printed money for budgetary needs for the last six months. According to the head of the NBU, Andriy Pishnyi, since the beginning of 2023 the government was able to avoid this practice because it has been able to attract 50% more funds through the domestic deb... #AndriyPishnyi #financeUkraine #Hryvnia #nbu #NBUprintedMoney
A Ukrainian private delivery company has issued bonds for UAH 800M. The National Securities Commission registered a report on the results of the issue of Nova Poshta’s interest-bearing unsecured series D bonds totaling UAH 800M without a public offer. The face value o... #BondsUkraine #novaposhta #NovaPoshtaBonds
Brussels calls on European banks to provide insurance guarantees for gas storage in Ukraine. According to Naftogaz, the company can offer EU companies the capacity to place up to 10 billion cubic meters of gas, with the possibility of increasing it to 15 billion cubic meters if Ukraine reclai... #gasstorage #GasstorageUkraine #MaroshŠefčovych #Naftogaz
Ukraine’s international reserves have increased to an 11-year high. They currently stand at $37.3B, the highest figure since August 2011. The National Bank explained that the reserves grew due to steady inflows from Ukraine’s international partners, which exceeded the... #CurrencySale #financialaidforUkraine #nbu #UkraineInternationalReservs
Since the war began, the Ukrainian government has sold military bonds for almost UAH 500B. According to the NBU the total amounts attracted are UAH 318.62B, $3.57B, and €1.482B. The state also allocated UAH 318.126B, $4.125B, and €1.049B to repay the debt. It is noted that in May the Minist... #BondSalesUkraine #GovernmentBondsPayment #MilitaryBondDemand #UkraineBond
The NBU continues to increase the sale of foreign currency, and Ukrainians are buying fewer dollars. The net sale of dollars by the National Bank from May 29 to June 2 rose to $457.02M. According to the regulator, the bank bought only $11.93M last week and sold $468.95M. In May, the central bank incr... #currencyexchange #CurrencySale #foreigncurrency #nbu
Ukraine is launching a monitoring mechanism for international financial support. The new initiative will be handled by the US Accountability Office and the Government Accountability Office. The goal is a practical interaction between the bodies regarding the preparation of audits,... #FinancialAidAudits #financialaidforUkraine #FinancialMonitoring
The EU is preparing a program to support Ukraine worth tens of billions of euros. The program was designed for the next four years, until 2027, sources among European diplomats and officials told FT. This long-term planning will give Ukraine more certainty in its finances and shoul... #EUsupportforUkraine #financialaidforUkraine #ReformsinUkraine #SupportUkraine
Bankers positively assess the further development of Ukraine’s financial sector, but corruption has returned as a main risk. A majority of the top managers of banks and non-bank financial institutions surveyed by the NBU reported an improvement in the state of the financial sector over the last six months, with 57% against ... #BusinessExpectation #financeUkraine #FinancialSectorUkraine #nbu #UkrainianBanking
The White House promises that the agreement on the US national debt will not weaken aid to Ukraine. A bipartisan agreement to prevent default will not limit the ability of the Biden administration to provide additional assistance to Ukraine, said White House Budget Director Shalanda Young. According... #financialaidforUkraine #ShalandaYoung #USaidforUkraine #USnationalDebt
Ukraine has fulfilled three IMF structural beacons. The Cabinet of Ministers submitted to the Parliament a draft of amendments to the Budget Code to ensure the predictability of budget policy and strengthen debt sustainability. It will allow the implem... #BudgetCodeUkraine #IMFprogramm #IMFStructuralBeacons
The share of NPL loans continues to grow in Ukrainian banks. The share of non-performing loans in the banking sector as of May 1 was 39.3% compared to 38.8% on April 1. According to the National Bank of Ukraine, the volume of problem loans increased by UAH 1.2B... #BankLoans #CreditPortfolio #NPLukraine #UkraineBankingSystem
Ukraine has agreed with the IMF on the second tranche of $900M. Ukraine and the IMF agreed at the staff level on the first revision of the four-year cooperation program, which paves the way for allocating the second $900M credit tranche, Prime Minister Denys Shmyh... #DenysShmyhal #imf #IMFprogramm #IMFtranche
Assets of another bankrupt bank were put up for sale in Ukraine. Assets belonging to Bank Sich are scheduled for an online auction on June 6. Assets are being put up for sale for the first time, the Deposit Guarantee Fund noted. It is specified that the total debt ... #BankSich #Banksprivatization #DepositGuaranteeFund #PrivatizationinUkraine
The high demand for hryvnia bonds allows lower rates. On May 30, the Ministry of Finance raised UAH 11.29B for the state budget at the auctions for the sale of domestic state loan bonds. In addition, the state received UAH 5.64B from the sale of annual h... #BondDemand #BondsInterest #hryvniabonds #UkraineBondssale
Ukraine continues increasing its public debt. In April, it grew by UAH 160B as tranches of loans from the IMF and the European Union arrived. According to the Ministry of Finance, as of April 30 Ukraine’s state and state-guaranteed debt exc... #financialaidforUkraine #StateDebtUkraine #UkraineBudget #UkraineBudgetRevenue
Ukraine is restoring the Micro-crediting market. Statistics from the national bank show that in the first three months of 2023, Ukrainian debt to microfinance organizations increased to UAH 8.7B. Compared with the last quarter of 2022, the amount an... #BankLoans #MicroCrediting #Microloan
During the war, Ukrainians began to look towards instruments including shares in foreign companies, agricultural land, and real estate. According to minfin, the number of people willing to experiment with Eurobonds is due to high profitability in euros. A little more than 20% of the respondents’ potential future investment portf... #AssetsOfUkrainians #eurobonds #ForeignCompaniesShares #Foreigninvestments
Ukraine plans to restore pre-war taxation to implement their IMF program. In the first reading, the parliament supported changes to the Tax Code of Ukraine and other laws regarding the specifics of taxation during the martial law period. Their goal is to restore the taxatio... #businesstaxes #IMFprogramm #TaxesUkraine #taxreform
Ukraine will join the Development Bank of the Council of Europe. The Ukrainian parliament adopted a law to allow Ukraine to become a member of the CEB, which will contribute to developing new housing and social infrastructure programs and provide opportunities to a... #CEB #UkraineJoiningTheCEB #UkraineReconstruction
Ukraine plans to participate in the EU’s single market financial support program. The Single Market Program is a seven-year, €4.2B financial support program that provides an opportunity to strengthen and increase the transparency of the single market and ensure the development of i... #SingleMarketEU #SingleMarketProgram #UkraineEU #Zelenskyy
The Minister of Finance of Ukraine met with representatives of the World Bank, IMF, and IFC to discuss funding for the reconstruction. Serhii Marchenko discussed this during the meetings of the member countries of the IMF and the World Bank in Montenegro. He reminded the participants that Ukraine needs $14.1B for recovery this year i... #AntonellaBassani #InvestmentsinUkraine #SerhiyMarchenko #UkraineReconstruction #UkraineRecovery
Since the beginning of the year, the Ukrainian state budget has received UAH 3.2B from Google tax. According to the state tax committee, in 2022 Ukraine collected UAH 4.3B in Google tax. In the first quarter alone, companies paid UAH 1.9B in value-added tax on operations to provide electronic servi... #GoogleTax #MetaPlatformsInc #OnlyFans #TaxesToTheBudget
Analysts predict that government spending on IT will grow by 7.6% this year. Spending will amount to about $590B, predicts research company Gartner Inc. The company’s survey of IT directors found that 57% of government executives plan to increase funding for application ... #ITmodernization #ModernizationUkraine #Technology #TechSpending
The NBU says that interest rates on deposits will continue to rise. The head of the National Bank of Ukraine, Andriy Pyshnyi, announced this forecast, noting that the projected discount rate will be higher than the current level of banks’ deposit rates for a lon... #AndriiPyshnyi #DepositsInterestRate #nbu #UkraineDeposits
Ukrainians are not afraid to take their money to the bank; there are already UAH 2T in deposits. As of May, the total deposit volume of Ukrainian businesses and consumers is UAH 1.97T, 33% more than last year and almost 50% more than in 2021, reported Opendatabot. The commercial deposit amount is... #BankLoans #CreditPortfolio #HryvniaDeposits #UkraineDeposits
The NBU will discuss easing currency restrictions with the IMF. On May 23, the IMF mission began preparations for the first review of the EFF program with Ukraine. The National Bank said that during negotiations special attention will be paid to the gradual easing... #CurrencyRestrictions #EFFprogram #IMFprogramm #nbu
The European Central Bank is preparing for a digital euro. The European Central Bank is preparing a project for a digital version of the euro, responding to pressure from emerging technologies that could change how money is exchanged in the future, reported A... #ChristineLagarde #DigitalEuro #digitalization #ECB
The Central Bank of Ukraine has presented a new strategy to maintain financial stability. The NBU has developed a new institutional strategy, Financial Fortress of Ukraine, which considers the influencing factors of the Russian invasion on the functioning of the financial system and is foc... #FinancialStabilityUkraine #nbu #UkraineFinancials
Ukraine will receive $3B from international donors for social payments and reconstruction. On May 19, the government of Ukraine accepted additional funding from the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). This is a gr... #DenysShmyhal #financialaidforUkraine #SupportUkraine #UkraineBudget
Norway and the Netherlands provided the EBRD with €170M to help Ukraine, but the bank has asked for more money. The bank reported that Norway had allocated NOK 1.5B to support the activities of the EBRD to strengthen energy security in Ukraine, the bank said. This grant continued Norway’s NOK 2B (€195M) g... #ebrd #financialaidforUkraine #GrantsforUkraine #SupportUkraine
