Russia will not be able to service its public debt in dollars. The US Treasury Department has announced that it will not renew the general license that temporarily allowed Russia to make payments to service its foreign debt in dollars while under sanctions. “The ... #RUssianDebt #RussianPublicDebt #SanctionsAgainstRussia #USTreasury
Ukraine needs to return to the pre-war tax system. Minister of Finance Serhiy Marchenko believes that Ukraine should return to the pre-war tax system. “I believe that Ukraine needs to return to the pre-war tax system. We need to decide what we w... #PreWarTaxes #SerhiyMarchenko #UkraineTaxes
Ukraine wants to expand its loan program for farmers. The Ministry of Agrarian Policy is initiating the expansion of affordable lending for farmers working in agricultural processing. Deputy Minister Taras Vysotsky stated that the financing of the sowin... #AffordableLoans #FarmingLoans #LoansforFarmers
The Ukraine Ministry of Finance has placed UAH 12.6B in military bonds. On May 24, the Ministry of Finance placed more than UAH 12.6B ($40M) worth of military bonds, which is almost twice as much as last week, announced the Ministry of Finance. The placement was as follo... #Bonds #BondsMarketUkraine #militarybonds
Ukraine will receive only $2B from its international partners in May. In May 2022, Ukraine will receive up to $2B from its international partners against the required $5B per month, said Finance Minister Serhiy Marchenko. Unfortunately, we will not have $5B in May. So ... #FinancialAid #FinancialAidUkraine #SerhiyMarchenko
Ukraine presented a plan for economic victory in Davos. At the opening of the World Economic Forum, the First Deputy Prime Minister of Ukraine, Yulia Svyrydenko, presented to its participants the plans that Ukraine needs to implement to win the war. Ukrain... #Davos #Davos2022 #worldeconomicforum #YuliaSvyrydenko
The Ukrainian banking sector remains profitable. The net operating profit of the banking sector for the four months of 2022 increased by 10%, despite a reduction in this figure in March-April. But due to significant contributions to reserves, the b... #bankingduringwar #nbu #UkraineBanking
Moody’s downgrades Ukraine’s sovereign credit rating. The Moody’s rating agency downgraded Ukraine’s long-term credit rating from Caa2 to Caa3 and negatively changed the outlook. The downgrade is due to increased risks in servicing Ukraine’s publi... #Moodys #MoodysOnUkraine #Moodysrating
Ukraine’s foreign debt should be restructured. Former Chairwoman of the National Bank of Ukraine Valeriia Hontareva believes that Ukraine’s external debt should be restructured by postponing payments for five to ten years, reported NV.ua. “... #DebtRestructuring #ukraine #ukrainedebt
Ukrainians are spending $100M per day on hryvnia cards abroad. The daily volume of operations abroad on hryvnia cards issued in Ukraine is about $100M, creating significant pressure on the country’s reserves, said NBU top manager Alexei Lupin. On May 21, ... #BankingUkraine #nbu #UkraineDebitCards
Ukraine’s Eurobonds rose by 10% in two days. Ukrainian Eurobond prices rose by an average of 7.5% on May 18, when new EU macro-financial assistance to Ukraine was announced, reported Interfax-Ukraine. Given the proximity of the payment deadline,... #BondsUkraine #eurobonds #ukrainebonds
The World Bank will allocate $30B for global food security due to the war in Ukraine. The World Bank has announced plans to give more than $30B to projects in order to meet the world’s food security challenges, which have sharpened since Russia’s undertaking of a major war ... #GlobalFoodSecurity #worldbank #WorldBankAid
The US will likely block Russian debt payments. On Wednesday, US Treasury Secretary Janet Yellen signaled that US officials would probably end up carving out a loophole in Western sanctions that have allowed Russia to continue making payments on i... #DebttoRussianBank #JanetYellen #RussiaDefault #SanctionsAgainstRussia
S&P has worsened its forecast of GDP growth for the largest countries in 2022-2023. The GDP growth decline is influenced by the scenario of a prolonged and exacerbated war between Russia and Ukraine. Since the last forecast by S&P in late March, several macroeconomic indicators... #GDP2022 #GDPforecast #GDPgrowth #StandartandPoor
Ukraine might return to import taxation. The National Bank of Ukraine (NBU) supports the return to import taxation, confident that the list of critical imports can be financed, reported Interfax-Ukraine. “At the moment, we believe that... #Import #ImportTaxation #nbu #UkraineImport
Germany is exploring options to confiscate the Central Bank of Russia’s assets for the reconstruction of Ukraine. German Finance Minister Christian Lindner said he was open to the idea of seizing the Russian Central Bank’s assets to finance Ukraine’s reconstruction, reported German newspaper Handelsblatt... #ChristianLindner #RussianAssets #RussianCentralBank
G7 finance ministers plan to allocate €15B in aid to Ukraine. The finance ministers of the G7 want to agree on a €15B financial aid package for Ukraine at a meeting in Bonn this week, reported Reuters. The package will provide three months of short-term financin... #G7 #G7aid #G7aidforUkraine #WarinUkraine
The Ministry of Finance has placed UAH 7.45B in military bonds. The Ukraine Ministry of Finance sold UAH 7,5B ($254M) worth of military bonds at an auction on May 17. Short-term 3-month securities attracted UAH 1.3B ($44.3M) to the budget at 9.5% per annum, 6-mon... #militarybonds #nbu #ukrainebonds
The EU approved a one-year suspension of import duties on Ukrainian products. The European Parliament’s Committee on International Trade has approved the suspension of EU import duties on Ukrainian products for a year in order to support Ukraine’s economy. The provi... #EUimportDuties #ImportDuties #UkraineExport
The State Savings Bank Oschadbank has resumed lending for the purchase of cars. Ukrainian customers can now use the Savings Drive program again. Loans are provided for the purchase of new vehicles, including electric vehicles with interest rates from 0.01% per annum. “Grow... #CarLoans #CarLoansUkraine #oschadbank
The EU prepares a new package of financial assistance for Ukraine. The European Commission intends to propose a new financial aid package to Ukraine on Wednesday, which includes new loans to provide immediate liquidity to Kyiv and commitments to long-term financing ... #EuropeanCommission #FinancialAid #G7countries #KristalinaGeorgieva #WarinUkraine
The EU’s €500M military aid package for Ukraine will be spent on heavy weapons. EU Foreign Minister Josep Borrell intends to announce a new tranche of military aid to support Ukraine and revealed how the €500M would be used. “The money will go for the purchase of heavy wea... #AidforUkraine #JosepBorrell #MilitaryAid #WarinUkraine
The Ministry of Finance has launched a website for the purchase of Ukraine’s military bonds. The Ministry of Finance of Ukraine has launched a new website with information on military bonds. Ukrainian citizens, business representatives, and foreign investors can contribute to accelerating Ukr... #Bonds #militarybonds #ukrainebonds
The EU commission downgrades GDP and inflation forecasts. The European Commission has downgraded its economic growth forecasts for the EU and the eurozone to 2.7% over the next two years. Inflation in 2022 is projected at 6.1% in the euro area and 6.8% in th... #EUgdp #EUinflation #GDPforecast #Inflation2022
The NBU might return to Ukraine’s floating currency exchange rate. The National Bank of Ukraine is considering the return to the floating exchange rate to increase stability in the foreign exchange market, said the head of NBU, Kyrylo Shevchenko. Since the war, the N... #currencyexchange #KyryloShevchenko #nbu
The G7 countries’ support for Ukraine will include weapons, money, and reconstruction assistance. The G7 countries call on Russia to withdraw all its troops from Ukraine immediately and say they do not recognize any new borders other than those that are internationally defined and will provide Ukr... #AidforUkraine #G7 #G7aid #G7aidforUkraine #WarinUkraine
The G7 countries will allocate up to €30B to Ukraine. At a meeting of the G7 finance ministers, they expressed a willingness to initiate budget support for Ukraine worth almost €30B, reported Spiegel.de. According to the participants in the talks, Ukrain... #G7 #G7aidforUkraine #G7andUkraine
The US will approve $40B in aid to Ukraine this Wednesday. US Senate Republican Leader Mitch McConnell said he expected the Senate to vote on Wednesday to approve about $40B in proposed aid to help Ukraine repel Russia’s invasion after holding a relate... #MitchMcConnel #USaidforUkraine #Zelenskyy
The President of the EIB has supported a multi-trillion plan to rebuild Ukraine. A top European official has backed a multi-trillion-euro ‘Marshall’ style plan to rebuild Ukraine, pledging the firepower of the EU’s lending arm for what he said must be a global rescue effort. Werne... #EIB #MarshallPlanUkraine #RebuildingUkraine #WernerHoyer
Ukraine nationalizes “daughters” of Sberbank and Prominvestbank. The National Security and Defense Council has decided to nationalize the corporate rights of the Ukrainian “daughters” of the Russian Sberbank and Prominvestbank, given ten days after the ... #Prominvestbank #RussianAssets #Sberbank #SberbankNationalization
The share of non-performing loans in banks amounts to 27.1%. In April, the share of non-performing loans in the banking sector of Ukraine increased to 27.1% compared to 26.6% in March, reported the National Bank of Ukraine. In March, the volume of non-performi... #nbu #NPL #NPLukraine
The Guarantee Fund has resumed the sale of liquidated bank assets. The Deposit Guarantee Fund has resumed the sale of assets of liquidated banks. Soon, information about the first lots will be entered into the Prozorro Sales platform. “Real estate properties t... #GuaranteeFund #ProZorro #ProzorroAuction
The European Commission will issue debt securities to support Ukraine. The European Commission plans to issue new EU debt to cover Ukraine’s short-term financing needs over the next three months. The plan is to raise €15B, reported POLITICO. According to the Ukrainian ... #AidforUkraine #DebtSecuritiesforUkraine #EUaid #EUcomission
The EBRD has downgraded Ukraine’s economic downturn in 2022 and improved its outlook for 2023. The European Bank for Reconstruction and Development (EBRD) has downgraded the forecast for Ukraine’s economic decline due to the war to 30%, while at the end of March, the forecast was minus 20... #ebrd #UkraineEconomy #UkraineEconomyForcast
Small and medium-sized businesses in Ukraine have lost $85B. Small and medium-sized enterprises (SMEs) have suffered direct losses of $64-85B in the 75 days since the war began, stated the Advanter Group. SMEs have a total funding need of $54B, with 87% of com... #doingbusinessinukraine #SmallBusinessUkraine #SME #UkraineBusiness
Russian assets in Ukraine will be transferred to the state. At today’s meeting, the Cabinet of Ministers approved a document according to which Russian assets in Ukraine will be transferred to the state, stated Prime Minister Denys Shmyhal. According to ... #RussianAssets #RussianSanctions
The macroeconomic situation and the banking system in Ukraine are stable. Despite the full-scale war of the Russian Federation against Ukraine and the loss of about 30% of the economy due to the shutdown and destruction of many enterprises, the macroeconomic situation and ... #DenysShmyhal #UkraineBanking #UkraineEconomyatWar
Ukraine will receive $10B of support, of which $4.5B has already been received. “We have already negotiated funds to support Ukraine through various instruments: loans, grants, aid, projects $ 10 B, and we already received more than $ 4.5 B,” said Prime Minister Denys Shmyhal fo... #AidforUkraine #DenysShmyhal #FinancialSupport #SerhiyMarchenko
Former Ukrainian finance minister Jaresko says the cost to rebuild Ukraine “could be up to $1 trillion” (by Mike Buryk) NORTH CALDWELL, N.J. – The former minister of finance of Ukraine, Natalie Jaresko, said she believes the cost to rebuild Ukraine after the war ends “could be up to $1 trillion,” adding that “this is g... #NatalieJaresko #RebuildingUkraine #UkraineAfterWar
New strategic directions for public sector banks during martial law. The Cabinet of Ministers approved the strategic directions of activity for public sector banks during martial law and post-war economic recovery, announced the Ministry of Finance. In particular, the... #BankiingDuringWar #BankingUkraine #nbu #НаціональногобанкуУкраїни
Britain revokes Moscow Stock Exchange’s recognized status. UK has revoked the Moscow Stock Exchange’s (MOEX) status as a recognized stock exchange in response to restrictions that the Bank of Russia had placed on foreign investors following the impleme... #MOEX #MOEXrevockedStatus #MoscowExchange #MoscowStockExchange #UK
Germany allocates €125M to support Ukraine. Germany will further increase its assistance to Ukraine, which is experiencing a humanitarian catastrophe due to Russian aggression, stated German Chancellor Olaf Scholz. He stressed his determinatio... #AidforUkraine #GermanyAid #OlafScholz #WarinUkraine
Ukraine has launched a global fundraising platform, United24. President Volodymyr Zelenskyy announced the launch of the worldwide initiative United24, the first component of which is an online fundraising platform. It is expected that this platform will become t... #UkraineFundrasing #United24 #Zelenskyy
Ukraine’s international reserves fell by another $1.5B. However, thanks to international assistance, the NBU will be able to maintain reserves at the proper level. “As of the beginning of May, the reserves, according to operational data, amounted to ... #BankingUkraine #KyryloShevchenko #nbu #UkraineReserves
Entrepreneurs have received 738 loans under the Affordable 5-7-9% Loan program. Last week, 738 soft loans totaling UAH 3.09B ($94M) were issued within the framework of the state program Affordable 5-7-9% Loans. Since the start of the program, 38,462 loans have been issued from a... #789loans #AffordableLoans #UkraineLoans
The Payoneer payment platform has been integrated into Privat24. As a result, users will be able to link their accounts and withdraw funds to bank cards. The state-owned PrivatBank and the Payoneer payment system have launched integration into the Privat24 mobile ... #Payoneer #Privat24 #PrivatBank
Inflation in Ukraine may exceed 20%. In April, inflation in Ukraine was 15.9%, and by the end of the year, it may exceed 20%, wrote the head of the National Bank, Kyrylo Shevchenko, for NV.ua. “This is a significant level of price... #Inflation #KyryloShevchenko #nbu #UkraineEconomy #UkraineInflation
Ukraine has received an €88.5M grant from the World Bank fund and expects €495M more. Ukraine received grant funding of €88.5M from the World Bank’s Donor Trust Fund under Ukraine’s Second Development Policy Recovery Loan, as reported by the Ukraine Ministry of Finance. &#... #AidforUkraine #GrantsforUkraine #worldbank #WorldBankGroup
The National Bank of Ukraine has increased the buyout of military bonds in April. Since April, the National Bank of Ukraine (NBU) has repurchased UAH 50B worth of military bonds. Thus, as of April 28, the portfolio of military bonds owned by the NBU will amount to UAH 70B ($2.2B).... #Bonds #militarybonds #nbu #warbonds
Oschadbank is issuing UAH 200M in loans to farmers every day. Over the past week, Oschadbank has been lending more than UAH 200M to one hundred agricultural enterprises every day. “Today, the portfolio of farming loans has exceeded UAH 2.4B ($80M). Every fifth b... #farmingukraine #LoansforFarmers #oschadbank
