Finance

Monday, October 24

Baerbock and Lambrecht demand €2.2B for Ukraine.

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...

Friday, October 21

The NBU leaves Its key policy rate unchanged at 25%.

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...

Wednesday, October 19

Military bonds with a record rate brought UAH 17B to the budget.

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...

The NBU will spend another UAH 15B on military bonds.

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...

Monday, October 17

The European Commission will announce the presentation of a financial assistance plan for Ukraine in the coming weeks,

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...

The US is unhappy with the EU’s financial aid delay.

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...

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.

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...

Friday, October 14

Zelenskyy has proposed creating a “financial Rammstein” to support Ukraine.

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...

Wednesday, October 12

The EU plans to allocate $1.5B monthly in 2023.

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...

The new head of the National Bank has announced Ukraine’s need for $38B next year.

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...

The EU has found a way to provide Ukraine with €2B of macro-finance assistance.

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...

The placement of military bonds brought the budget more than UAH 3.6B.

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...

Tuesday, October 11

Due to the attack, Ukraine’s banking system went into remote mode.

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...

Monday, October 10

The IMF has approved $1.3B in additional assistance for Ukraine.

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), ...

The EU will provide Ukraine with €2B in macro-financial assistance.

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...

In 2023, every fourth hryvnia will be used to service the national debt.

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...

Ukraine’s 2023 state budget passes the first reading.

Ukraine’s 2023 state budget passes the first reading. Deputies have adopted a resolution on conclusions and proposals for the document, the Ministry of Finance said. In the 2023 state budget draft, 45% of expenditures are planned for security and defense...

Friday, October 7

Ukraine’s international reserves decreased by 6% in September.

Ukraine’s international reserves decreased by 6% in September. As of October 1, 2022, Ukraine’s international reserves amounted to $23.9B. In September, they decreased by 5.9% due to the sale of currency by the National Bank on the interbank market, includi...

Thursday, October 6

United24 collected $200M to support Ukraine.

United24 collected $200M to support Ukraine. During the five months of the UNITED24 platform’s operation, the total amount of charitable contributions has approached the $200M mark. According to the platform’s report, they purchased 10 set...

Wednesday, October 5

The EU integrates aid to Ukraine into its 2023 budget.

The EU integrates aid to Ukraine into its 2023 budget. The finance ministers of the European Union agreed to integrate support payments to Ukraine into the EU budget for 2023 in order to make them more structured and predictable. This was stated by the V...

The IMF might give Ukraine $1.3B at the end of the week.

The IMF might give Ukraine $1.3B at the end of the week. The Executive Board of the International Monetary Fund will consider Ukraine’s request for additional assistance under the emergency financing program on October 7. IMF staff have prepared the n...

Tuesday, October 4

Ukrainian bonds have lost up to 20% of their nominal value.

Ukrainian bonds have lost up to 20% of their nominal value. Last week, Ukrainian Eurobonds continued to fall amid news of the pseudo-referendums and illegal annexation of Ukrainian territories. According to Bloomberg data, dollar-denominated Eurobonds maturing...

Ukraine has launched military bond sales through the Diia app.

Ukraine has launched military bond sales through the Diia app. Starting October 3, Ukrainian citizens can purchase military bonds through the Diya application. As noted by the Ministry of Digital Transformation, the cost of one military bond starts at UAH 900 ($2...

Monday, October 3

The US plans to provide $1.5B monthly to Ukraine and has asked allies to do the same.

The US plans to provide $1.5B monthly to Ukraine and has asked allies to do the same. The United States is willing to support Ukraine’s finances with $1.5B a month in aid throughout the war against Russia and is pushing its EU allies to commit to similar amounts, reported Bloomberg. T...

Ukraine is applying for $1.3B in emergency aid from IMF.

Ukraine is applying for $1.3B in emergency aid from IMF. On September 30, the Board of Executive Directors of the IMF approved the expansion of anti-crisis financing instruments, which will enable Ukraine to apply for a new tranche of aid within the scope o...

Ukraine will receive $530M from the World Bank.

Ukraine will receive $530M from the World Bank. The World Bank has announced an additional $530M in support for Ukraine. Of this money, $500M was provided by Great Britain and $30M by Denmark. As of September, the World Bank has mobilized almost $1...

Thursday, September 29

The US Senate votes to provide $12B for Ukraine.

The US Senate votes to provide $12B for Ukraine. The US Senate passed a temporary funding bill, the Washington Post reports. Among other things, the draft law offers Ukraine a package of assistance in its fight against Russian forces for more than $...

Money transfers to Ukraine have fallen by 12%.

Money transfers to Ukraine have fallen by 12%. From January to July 2022, $7.6B was transferred to Ukraine through official and unofficial channels. Despite the war, this is only 5.7% less than in the same period of the previous pre-war year. At t...

Wednesday, September 28

Ukrainian business will be able to borrow billions from the US federal government.

Ukrainian business will be able to borrow billions from the US federal government. The United States Development Finance Corporation (DFC), an agency of the US federal government, is ready to lend money to Ukrainian businesses within the framework of individual projects in amounts r...

Tuesday, September 27

Ukrainians have borrowed 12 times less money since the war.

Ukrainians have borrowed 12 times less money since the war. Loan amounts provided by microfinance organizations fell to UAH 1.3B in the second quarter of the current year, compared to UAH 16.2B before the war. This is more than 12 times less than the average a...

Monday, September 26

Europe issues €1B in bonds to help Ukrainian refugees.

Europe issues €1B in bonds to help Ukrainian refugees. The Council of Europe Development Bank (CEB) has resumed issuing its €1B seven-year Social Impact Bond (SIB) after the Bank of Lithuania invested €100M, the CEB said. In April this year, the bank laun...

Ukraine prepares the nationalization of financially weak banks.

Ukraine prepares the nationalization of financially weak banks. A new draft law creates the basis for the nationalization of systemically important banks in which the state suspects a worsening of solvency. The draft’s explanatory note indicates that nationalizat...

Friday, September 23

The National Bank reported a 3% increase in its assets.

The National Bank reported a 3% increase in its assets. According to the results from the first half of 2022, the volume of NBU assets increased by 3% since the beginning of the year and amounted to almost UAH 1.417T, the NBU reported. At the same time, it...

Ukraine plans to attract $51.5B in 2023.

Ukraine plans to attract $51.5B in 2023. In 2023, the government of Ukraine plans to attract $37.9B to finance the state budget deficit and $13.6B to restore the country. In the presentation of the draft state budget for 2023, it is noted th...

Thursday, September 22

The dollar reached a 20-year high after Putin’s statement on mobilization.

The dollar reached a 20-year high after Putin’s statement on mobilization. On September 21, the dollar jumped to a new two-decade high after the Russian president’s statement regarding mobilization and expectations of another interest rate increase by the US Federal Re...

Wednesday, September 21

The EU Council has approved €5B in macro-finance aid for Ukraine.

The EU Council has approved €5B in macro-finance aid for Ukraine. On September 20, the EU Council officially adopted a decision on the urgent provision of additional macro-financial assistance to Ukraine in the amount of €5B, according to an announcement. This assis...

Tuesday, September 20

Zelenskyy turns to BlackRock for advice on attracting money to Ukraine.

Zelenskyy turns to BlackRock for advice on attracting money to Ukraine. The President of Ukraine, Volodymyr Zelenskyy, and Larry Fink, the CEO of BlackRock, the world’s largest investment company, discussed how BlackRock’s financial market consulting departmen...

State banks have returned to the de-occupied territories in the Kharkiv region.

State banks have returned to the de-occupied territories in the Kharkiv region. The State Savings Bank and PrivatBank are resuming work in the Kharkiv region settlements that have been liberated from Russian occupation, the Ministry of Reintegration reported. On September 20, Osc...

Deposit rates in Ukraine have increased to 15-20%.

Deposit rates in Ukraine have increased to 15-20%. Market rates have been affected by the NBU’s June decision to increase the discount rate to 25%, and at some banks, deposit rates have reached 15-20%. The NBU also has noted an increase in the y...

The National Bank of Ukraine will sell government bonds at a 25% rate.

The National Bank of Ukraine will sell government bonds at a 25% rate. The National Bank is considering the sale of government bonds to increase the attractiveness of hryvnia bonds and deposits, announced the regulator. If the discount rate does not change during the res...

During the war, Ukrainians increased their hryvnia bank deposits by a third.

During the war, Ukrainians increased their hryvnia bank deposits by a third. Since the beginning of the full-scale war, consumer hryvnia bank deposits have increased by 32%. As deputy head of the NBU Council Vasyl Furman clarified, as of September 9, the funds of legal entitie...

Monday, September 19

Ukraine has received a $1.5B grant from the United States.

Ukraine has received a $1.5B grant from the United States. This is the last tranche of grant funds from the $4.5B package the US provided through the World Bank’s Trust Fund, the Ministry of Finance reported. It is noted that the funds will be used for ...

The Ministry of Economy revealed the expected assistance from the World Bank.

The Ministry of Economy revealed the expected assistance from the World Bank. In November, the World Bank should approve a package of additional financial aid for Ukraine worth $1B, Deputy Minister of Economy Oleksandr Hryban said. Together with related financing, this amount c...

Thursday, September 15

Ukraine has signed an agreement to suspend foreign debt payments.

Ukraine has signed an agreement to suspend foreign debt payments. Minister of Finance Serhii Marchenko signed a memorandum on the suspension of payments for state and state-guaranteed debt with a group of Ukraine’s official creditors from the G7 and Paris Club coun...

The World Bank will create a $17B trust fund for Ukraine.

The World Bank will create a $17B trust fund for Ukraine. The World Bank is already working on fundraising and plans to create a new $17B trust fund at Ukraine’s request, which is needed for urgent reconstruction by the end of 2023. According to Roman ...

The Government explained how they will cover the $38B 2023 budget deficit.

The Government explained how they will cover the $38B 2023 budget deficit. The Cabinet of Ministers plans to cover Ukraine’s state budget deficit in 2023 with support from the International Monetary Fund, the EU, and the US. According to Prime Minister Denys Shmyhal, n...

Wednesday, September 14

The Cabinet of Ministers has approved the 2023 state budget draft.

The Cabinet of Ministers has approved the 2023 state budget draft. Prime minister Denys Shmyhal noted that spending on security and defense will increase fourfold. According to Shmyhal, there is one main priority: defense and security. 1.136T hryvnias, or almost 50% ...

The EU has talked about allocating an additional €3B to Ukraine.

The EU has talked about allocating an additional €3B to Ukraine. European Commissioner for the Budget Johannes Khan hopes that the EU will give an additional €3B to Kyiv by the end of the year. This money is planned to be provided in the form of grants, Radio Svobo...

Ukraine will receive $1.4B in aid from the IMF within a month.

Ukraine will receive $1.4B in aid from the IMF within a month. On September 13, President of Ukraine Volodymyr Zelenskyy and Managing Director of the International Monetary Fund Kristalina Georgieva discussed the prospects of financial cooperation. Zelensky thank...

Tuesday, September 13

The White House is asking Congress to allocate additional funding to support Ukraine.

The White House is asking Congress to allocate additional funding to support Ukraine. The US intends to consistently supply Ukraine with defensive support and other aid so that it can effectively resist Russian aggression, stated White House spokeswoman Karine Jean-Pierre at a meeting ...

Follow us