The European Union announces $2.57B in funding for Ukraine. The European Union will provide another €2.5B ($2.57B) in financial aid for Ukraine, European Commission President Ursula von der Leyen announced on Tuesday. The EU Commission is planning to aid Ukrai... #DenysShmyhal #EUaidforUkraine #UrsulavonderLeyen
Canada issues government bonds to support Ukraine. The Canadian government has issued government bonds on Ukraine’s behalf, the proceeds from which will be transferred to Ukraine, announced the Canadian Ministry of Finance. “In order to give Ca... #BondsSovereigntyOfUkraine #CanadaaidforUkraine #CanadaBonds
From November 14 to 18, the NBU sold $182.18M and bought $16.1M on the interbank foreign exchange market. According to currency intervention data, the National Bank sold $182.18M on the interbank market during the week, which is just over half of what was purchased last week, when the volume of sales from... #CurrencySale #foreignexchangemarket #nbu
The EU aims for the next aid payment in early January. The European Union should be able to provide Ukraine the first portion of a new €18B aid package starting in January if the approval process goes smoothly, the bloc’s vice president, Valdis Dombrovski... #EUaidforUkraine #financialaidforUkraine #ValdisDombrovskis
Privatbank and Oschadbank are Ukraine’s most profitable banks in 2022. For the 10 full months of the year, Ukraine’s solvent banks generated UAH 7.37B in profit after taxes. State-owned PrivatBank became the most profitable, earning UAH 13.828B, according to data from t... #nbu #OschadbankProfits #PrivatBankProfits #UkrainianBanks
The NBU has expressed its expectations for the new IMF credit program. The National Bank expects a full-fledged program of expanded IMF financing in 2023. This may happen following the first results from the monitoring program, the approval of which is expected at the en... #imf #IMFcreditProgram #SerhiiNikolaychuk
The largest state bank’s profits fell by more than 50%. The net profit of the state-owned PrivatBank for the first nine months of 2022 amounted to UAH 13.8B. The bank said this is UAH 7.4B (54%) less than the result for last year’s corresponding peri... #PrivatBank #PrivatBankProfits
The KfW has postponed servicing a €150M loan by Ukraine until 2027. The Cabinet of Ministers of Ukraine signed an additional agreement to the April 7, 2022 €150M loan agreement between the CMU and the Reconstruction Credit Institute (KfW). As explained by the Ministry... #KfW #UkraineLoans #UkrainianLoanServicing
Ukraine must repay UAH 100B in debt in November. The Ministry of Finance has published the schedule for monthly state debt payments under current contracts for November 1, 2022. According to the ministry, the country must pay UAH 152.2B ($4.17B) by ... #NationalDebtofUkraine #UkraineDebtPayment #UkrainianDebt
Germany will provide €1B in aid to Ukraine. The German government has allocated an additional €1B from their 2023 federal budget to support Ukraine. The funds will be spent to ensure cyberspace security. Part of this amount will be directed to ... #financialaidforUkraine #GermanyAidforUkraine
The main financing source for the state budget remains printing the hryvnia. According to the Ministry of Finance, since the beginning of the war, the National Bank has bought UAH 340B ($10.84B) worth of government military bonds. The regulator secured this amount by issuing h... #nbu #NBUprintingMoney #UkraineStateBudget
Loans for Ukrainians have become more expensive, but the yield on deposits has not changed. In October, the average interest rates on new bank loans in hryvnia amounted to 37.8% per annum. Interest rates increased by 1.6% compared to the previous month, reported the NBU. Interest rates on ne... #CreditPortfolio #LoansForUkrainians #nbu #UkraineDeposits
Ukraine has been left without €3B worth of macro-financial aid this year but will receive €2.5B by the end of the month. According to European Commission, the EU will not be able to allocate €3B to Ukraine, the last third of the funds provided by the €9B macro-financial assistance program. According to the Deputy Chairm... #EUfinancialAid #financialaidforUkraine #ValdisDombrovskis
Hungary refuses to contribute to €18B macro-finance aid to Ukraine. Hungary will not make a financial contribution to the EU’s long-term joint credit to support Ukraine’s state budget in 2023, said the Minister of Foreign Affairs of Hungary, Peter Szijjártó. “We... #EUfinancialAid #PeterSijarto #UrsulavonderLeyen
The US government has asked banks to continue servicing several Russian companies. The US Treasury Department and the State Department have secretly asked the largest American banks, including JPMorgan and Citigroup, not to refuse cooperation with certain strategic Russian companies... #anti_Russiansanctions #Citigroup #JPmorgan #RussianCompanies
Ukraine increased its reserves by $1.3B. In October, Ukraine’s international reserves increased by $1.315B (5.5%). As of November 1, reserve funds totaled $25.2B, the NBU said. Since the beginning of the year, reserves have decreased b... #nbu #NBUInternationalReserves
Ukrainian banks’ 2023 profits are only 14% of last year’s. For the first nine months of the year, solvent banks earned UAH 7.4B in net profit, compared to UAH 51.4B for the corresponding period in 2022. The sector’s return on capital was 4.3% compared to 32.1... #nbu #UkraineBanksProfits #UkrainianBanks
The European Commission will provide €18B in financial assistance to Ukraine. The President of the European Commission, Ursula von der Leyen, informed President Zelenskyy that this week she will propose a substantial financial package from the EU of up to €1.5B a month, totali... #EUfinancialAid #UrsulavonderLeyen #Zelenskyy
The EU is working on the transfer of frozen assets of the Russian Federation. The European Union is analyzing the possibility of using part of the frozen Russian assets to restore Ukraine. As Bloomberg notes, the discussion is in an early stage, and legal experts have been task... #RussianAssetsConfiscation #RussianCentralBank
The Ukrainian Parliament approves the 2023 Budget. The budget was backed by 295 members of parliament in its second and final reading, lawmaker Yaroslav Zheleznyak said on Telegram. Ukraine’s cabinet cut its 2023 economic growth forecast to 3.2% from... #DenysShmyhal #StateBudgetUkraine #UkrainianParliament
Ukraine will receive more EU Funds in January. According to a senior EU official, Ukraine could receive the first installment of a new European Union financial package in January. There is broad support among member states to move quickly and acc... #EUfinancialSupport #financialaidforUkraine
The NBU has spent more than $20B to support the hryvnia. In October, the National Bank of Ukraine reduced the market sale of currency to $2.08B, against $2.79B in September. At the same time, the volume of purchases remained relatively insignificant –... #CurrencySale #Hryvnia #nbu
The European Commission has prepared three financial support mechanisms for Ukraine, writes Politico. The European Commission wants to attract up to €18B in loans and grants to cover half of Ukraine’s expected budget deficit of $38-40B in 2023. The first option, which the Commi... #EUfinancialAid #financialaidforUkraine #UkraineBudgetDeficit
Rates on short-term hryvnia bonds increased. The Ministry of Finance attracted UAH 13.35B at auctions for the sale of military bonds on November 1. According to the Ministry of Finance, revenues from the placement of hryvnia-denominated governm... #BondsUkraine #hryvniabonds
The NBU will continue to pursue a tight monetary policy. To preserve macro-financial stability, the National Bank will conduct a relatively tight monetary policy for the foreseeable future. This position is supported by the members of the Monetary Policy Co... #nbu #UkraineMonetaryPolicy
The EU has frozen €17B in Russian assets. The European Union has frozen Russian assets worth more than €17B as part of the sanctions that have been placed against Russia. EU Justice Commissioner Didier Reynders believes this money can be used... #DidierReynders #RestoringUkraine #RussianAssetsArrested
The S&P has confirmed Kyiv’s credit rating and continues to envision a stable forecast. The S&P Global Ratings has maintained Kyiv’s long-term credit rating at the CCC+ level. This means that the issuer is vulnerable and depends on favorable conditions to fulfill its financial ... #KyivCreditRatings #S&PRatings
A gap between the financial contributions of Ukraine’s allies and its financial commitments complicates the state budget deficit. The first quarter of 2023 is currently the most difficult challenge for Ukraine as far as covering the budget deficit due to the big difference between partners’ commitments to financial support and t... #InflationinUkraine #nbu #SerhiyMarchenko #UkraineBudgetDeficit
The war will restrain the recovery of lending in Ukraine. In the third quarter, banks continued to report a slowdown in lending because of the war, the National Bank of Ukraine said. It is noted that the banks participating in a relevant survey noted a sligh... #LendingInUkraine #LoanPortfolio #nbu
The European Commission will be the center for managing aid to Ukraine. The European Commission is ready to become the secretariat for managing all international assistance for Ukraine’s reconstruction, said the head of the European Commission, Ursula von der Leyen, in Be... #EUaidforUkraine #ReconstructionofUkraine #UrsulavonderLeyen
The EU will provide Ukraine €1B in emergency aid to restore its energy infrastructure. The target of Russia’s attacks on Ukraine is civilian infrastructure, particularly energy infrastructure. Therefore, the EU is working with Ukraine to repair this infrastructure by providing eme... #ElectricGeneratorsForUkraine #EnergyInfrastructure #UrsulavonderLeyen
The WB grants Ukraine $500M under British guarantees. The World Bank has allocated an additional $500M to Ukraine through the International Bank for Reconstruction and Development (IBRD) under guarantees from Great Britain announced in September, the WB ... #financialaidforUkraine #IBRDcredit #WorldBankAidforUkraine
IMF chief says Ukraine manages its finances well but needs more money. International Monetary Fund Managing Director Kristalina Georgieva said that while Ukraine has managed its economy responsibly, huge sums will be needed to support the country. Ukraine will require $... #financialaidforUkraine #IMFaidforUkraine #KristalinaGeorgieva #Zelenskyy
The European Commission has promised to pay €9B in microfinance assistance by the end of the year. At the EU summit, the finance ministers from the participating countries were instructed to develop a mechanism to allocate at least €18B to Ukraine in 2023, said the President of the European Commiss... #EUfinancialAid #UrsulavonderLeyen
Baerbock and Lambrecht demand €2.2B for Ukraine. German politicians, including the head of the Foreign Ministry and the minister of defense appealed to the head of the Ministry of Finance with a demand to provide €2.2B in 2023 for Ukraine’s military... #AnnalenaBaerbock #ChristineLambrecht #GermanyAidforUkraine
The NBU leaves Its key policy rate unchanged at 25%. The board of the national bank has decided to keep the key policy rate at 25% per annum. Exchange rate stability, supported by this rate and additional measures by the NBU, will continue to contribute... #InflationinUkraine #KeyPolicyRate #nbu
Military bonds with a record rate brought UAH 17B to the budget. The Ministry of Finance attracted UAH 17.22B to the state budget at auctions for the sale of military bonds of the domestic state loan (OVDP). Almost the entire amount came from selling securities den... #militarybonds #OVDPselling #UkraineBond
The NBU will spend another UAH 15B on military bonds. On October 18, the portfolio of domestic bonds owned by the National Bank of Ukraine increased by another UAH 15B, NBU data shows. As of October 17, the NBU owned government bonds with a total value o... #nbu #Ukrainemilitarybonds
The European Commission will announce the presentation of a financial assistance plan for Ukraine in the coming weeks, EC Vice President Valdis Dombrovskis said. According to Dombrovskis, Ukraine’s financing needs are growing. Therefore, a more strategic financing plan should be considered to ensure Ukraine’s e... #EUfinancialAid #EuropeanCommission #ValdisDombrovskis
The US is unhappy with the EU’s financial aid delay. The US is urging the EU to increase financial aid to Ukraine, whose economic situation is deteriorating due to the constant hostilities, writes The Washington Post. US Treasury Secretary Janet L. Yell... #EUfinancialAid #InflationinUkraine #JanetYellen
In 2023, Ukraine’s Minister of Finance will head the World Bank’s Board of Governors and the IMF for the first time in history. The leading member countries of the World Bank Group and the International Monetary Fund have elected the Minister of Finance of Ukraine, Serhiy Marchenko, as the Chairman of the Board of Governors of... #imf #SerhiyMarchenko #WorldBankGroup
Zelenskyy has proposed creating a “financial Rammstein” to support Ukraine. The President of Ukraine, Volodymyr Zelenskyy, proposed to the international community the creation of a financial support format for Ukraine based on the Rammstein template. The Ukrainian head of st... #financialRammstein #UkraineStateBudget #Zelenskyy
The EU plans to allocate $1.5B monthly in 2023. Ukraine is negotiating with the EU, the US, and the IMF to provide comprehensive support for Ukrainian public finances in 2023. This will ensure a predictable environment for business and the populati... #EUfinancialAid #ValdisDombrovskis #YuliyaSvyridenko
The new head of the National Bank has announced Ukraine’s need for $38B next year. The newly appointed head of the National Bank, Andriy Pishnyi, outlined his office’s priorities. Among them are macroeconomic stability, the effectiveness of macroeconomic policy, negotiations with in... #AndriyPishnyi #nbu #UkraineStateBudget
The EU has found a way to provide Ukraine with €2B of macro-finance assistance. On October 11, the European Commission allocated a double tranche of €11B, the funds from which will be used to support Ukraine within the framework of the NextGenerationEU program. According to the E... #JohannesHahn #macrofinanceprogram #NextGenerationEU
The placement of military bonds brought the budget more than UAH 3.6B. On October 11, the Ministry of Finance auctioned military bonds for UAH 11.8M and $98.2M, at unchanged rates, the Ministry of Finance said in a statement. In particular, 6-month securities were placed... #StateBudget #Ukrainemilitarybonds
Due to the attack, Ukraine’s banking system went into remote mode. The National Bank asked banks to ensure the operation of their services in remote mode and to transfer their branches’ operations to a secure format. As noted by the NBU, the banking system of Ukraine... #nbu #UkraineBankingSystem
The IMF has approved $1.3B in additional assistance for Ukraine. The Board of Executive Directors of the IMF approved an additional $1.3B tranche to Ukraine on October 7, the NBU reported. These funds will come within the extended Rapid Financing Instrument (RFI), ... #financialaidforUkraine #imf #IMFaid #nbu
The EU will provide Ukraine with €2B in macro-financial assistance. The EU will provide Ukraine with €2B in macro-financial assistance soon, European Commission President Ursula von der Leyen said at a press conference following the informal EU summit on October 7. Th... #AidforUkraine #EUaid #UrsulavonderLeyen
In 2023, every fourth hryvnia will be used to service the national debt. Next year, the Accounting Chamber of Ukraine reported that 25% of budget revenue will be used to service the state debt. According to the agency, next year the state debt will double compared to the c... #StateBudget #UkraineBudgetDeficit #UkraineNationalDebt
