Finance

Thursday, February 13

Winning the Economic and Financial War in Ukraine.

Winning the Economic and Financial War in Ukraine. In advance of expected talks upon Trump’s presidency in early 2025, “land for peace” has become the catchphrase uttered by those who want a quick end to the war. Central among the innumerable c...

Wednesday, February 12

Ukraine can fund its defense in the war if adequate Russian sanctions are in place.

Ukraine can fund its defense in the war if adequate Russian sanctions are in place. As former US Deputy Secretary of State James Glassman noted, the US and the EU “did not pressure” Russia on the issue of sanctions because they overlooked the fact that Ukraine can replace...

The EU will follow the US’s lead and will review billions of euros in foreign aid allocation.

The EU will follow the US’s lead and will review billions of euros in foreign aid allocation. According to Bloomberg, the EU will review its foreign aid, shifting several billion euros to better align the bloc’s funding allocation “with its foreign policy interests in difficult int...

Ukraine’s largest oil producer wants to build 200 MW of green capacity in addition to gas generation.

Ukraine’s largest oil producer wants to build 200 MW of green capacity in addition to gas generation. Ukrnafta, part of the Naftogaz group, which, with the support of the EBRD, has planned projects to generate energy using its gas, is additionally working to attract investment to build around 200 MW o...

Tuesday, February 11

Ukraine plans to allocate ₴739B for weapons procurement in 2025, focusing on a transition to long-term contracts.

Ukraine plans to allocate ₴739B for weapons procurement in 2025, focusing on a transition to long-term contracts. This year, Prime Minister Denys Shmyhal announced a historic budget of at least ₴739B ($17.5B) for Ukraine’s weapons production and procurement program. He highlighted that the emphasis will be ...

Shares of Ukrainian companies are rising significantly as investors anticipate an end to the war.

Shares of Ukrainian companies are rising significantly as investors anticipate an end to the war. The index of Ukrainian shares on the Warsaw Stock Exchange, WIG Ukraine, reached pre-war levels at the end of last week, jumping by nearly 25% in just a few days. This surge reflects the Warsaw financ...

Friday, February 7

Ukrainian bonds rise on hopes for a Trump peace plan.

Ukrainian bonds rise on hopes for a Trump peace plan. According to Bloomberg, Ukrainian dollar bonds have increased for five consecutive days, reaching new records as investors show optimism about a potential peace settlement. Specifically, bonds maturin...

Tuesday, February 4

Greece calls on the EU to establish a €100B fund for its defense.

Greece calls on the EU to establish a €100B fund for its defense. Greek Prime Minister Kyriakos Mitsotakis, while preparing for a new EU defense strategy, has proposed creating a fund of at least €100B for the EU’s overall defense budget. Mitsotakis’ pro...

Monday, February 3

Ukraine is seeking Trump’s support for using frozen Russian assets to purchase American weapons.

Ukraine is seeking Trump’s support for using frozen Russian assets to purchase American weapons. According to the WP, Since Donald Trump took office as US president, Ukraine has stepped up its efforts to access the Russian Central Bank’s frozen assets to finance weapon supplies. Kyiv hopes ...

The NBU expects that Ukraine’s international aid will decrease.

The NBU expects that Ukraine’s international aid will decrease. The National Bank anticipates that Ukraine will continue to receive significant external financial support, particularly in 2025, but the amount will gradually diminish as the country’s economic...

Piraeus Bank forecasts an increase in the profitability of household and business deposits amid rising key rates in Ukraine.

Piraeus Bank forecasts an increase in the profitability of household and business deposits amid rising key rates in Ukraine. Igor Yakobchuk, Treasury Director at Piraeus Bank, stated to UBN that competition among banks for client liabilities and the NBU’s increase of the discount rate to 14.5% will result in a gradual...

Thursday, January 30

The freezing of US foreign aid: Ukraine will hold consultations on the resumption of assistance.

The freezing of US foreign aid: Ukraine will hold consultations on the resumption of assistance. President Zelenskyy instructed the government to prepare a report on suspended American support programs. “We will determine which of them are critical. We can provide some of the funding with o...

Demand for loans in Ukraine is growing; banks are planning to ease standards for consumer loans and tighten them for mortgages.

Demand for loans in Ukraine is growing; banks are planning to ease standards for consumer loans and tighten them for mortgages. Banks remain optimistic about lending, note an increase in demand for corporate and consumer loans, and predict loan portfolio growth over the next 12 months, according to an NBU survey. According to ...

Russian LNG, aluminum, and the shadow fleet: What is the new EU sanctions package targeting?

Russian LNG, aluminum, and the shadow fleet: What is the new EU sanctions package targeting? The 16th package of EU sanctions targeting Russia will not include a general ban on the import of Russian LNG. Instead, LNG supplies to terminals not connected to the EU’s common gas distributio...

The war’s cost: State debt has surged by 100% in three years, but default was avoided.

The war’s cost: State debt has surged by 100% in three years, but default was avoided. Since the onset of Russia’s full-scale invasion, Ukraine’s state debt has risen by 156% (+₴4.25T) in hryvnia and by 78% (+$72.7B) in foreign currency, according to Danylo Hetmantsev, chair...

Wednesday, January 29

Analysts have identified the advantages Ukraine would gain from receiving frozen Russian assets in their entirety.

Analysts have identified the advantages Ukraine would gain from receiving frozen Russian assets in their entirety. Confiscating $300B in frozen Russian assets would provide Ukraine with a better opportunity to win the war, the most critical issue for the country today, according to Bill Browder, head of the Britis...

Tuesday, January 28

New opportunities arise to confiscate Russian assets.

New opportunities arise to confiscate Russian assets. A significant portion of the Russian assets that were stored in debt securities in the Belgian Euroclear depository, is now resting in accounts belonging to correspondent banks in cash after the secur...

NBU: Commercial and consumer lending is trending up in Ukraine.

NBU: Commercial and consumer lending is trending up in Ukraine. In 2024, Ukrainian banks saw their net commercial loan portfolios grow by ₴65B (21%) and their consumer loan portfolios increase by ₴62B (39%), said Andriy Pyshnyy, Chairman of the NBU. According to h...

Monday, January 27

What leverage will enable Trump to achieve peace in Ukraine?

What leverage will enable Trump to achieve peace in Ukraine? To force the leaders of Russia and Ukraine to the table and begin serious peace talks, US President Donald Trump needs leverage. Steven Pifer, a former US ambassador to Ukraine, believes that this sho...

The US wants to provide Ukraine with weapons using frozen Russian assets, and Europe will pay for it.

The US wants to provide Ukraine with weapons using frozen Russian assets, and Europe will pay for it. The US President’s Special Envoy for Ukraine and Russia, Keith Kellogg, said that the US is mulling the possibility of purchasing American weapons for Ukraine using frozen Russian assets. “...

Euroclear is wary of the negative consequences of confiscating Russian assets.

Euroclear is wary of the negative consequences of confiscating Russian assets. Confiscating frozen Russian assets could have unintended consequences that would hurt the international financial system, said Valerie Urben, Euroclear CEO, which holds most of Russia’s frozen a...

Friday, January 24

The National Bank of Ukraine has raised the key policy rate to 14.5% per annum.

The National Bank of Ukraine has raised the key policy rate to 14.5% per annum. The NBU increased rates on overnight certificates of deposit, three-month certificates of deposit, and refinancing loans by 1 percentage point – to 14.5%, 17%, and 17.5%, respectively. This decision a...

The National Bank has worsened its 2025 key macro indicator forecasts.

The National Bank has worsened its 2025 key macro indicator forecasts. Considering security risks and the difficult situation in the labor market, the NBU has worsened its forecast for Ukraine’s 2025 GDP growth from 4.3% to 3.6%. At the same time, the bank predicts...

The EU, along with two individual countries, are launching a €14M program to support Ukraine’s European integration.

The EU, along with two individual countries, are launching a €14M program to support Ukraine’s European integration. In the presence of Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine, Olga Stefanishyna, the EU, Denmark, and Lithuania reaffirmed their commitment to supporting Ukraine̵...

Wednesday, January 22

How much financial support from the EU will Ukraine receive this year and will aid from the US be suspended after Trump’s decree?

How much financial support from the EU will Ukraine receive this year and will aid from the US be suspended after Trump’s decree? In 2025, Ukraine expects to receive more than €30B in budget support from the EU, said Finance Minister Serhiy Marchenko. The amount consists of two parts: €18.1B from the framework of using income fr...

Tuesday, January 21

VisionFund Ukraine Starts Lending to Support Small Businesses in Ukraine.

VisionFund Ukraine Starts Lending to Support Small Businesses in Ukraine. Despite the war, international companies slowly continued entering the market, looking for high returns and post-war new market opportunities. VisionFund Ukraine, after two years on the market, receiv...

Monday, January 20

Privatization of profitable enterprises in Ukraine is low-hanging fruit, but not for foreign investors. A chemical factory seized from a Russian oligarch will be put up for auction this year.

Privatization of profitable enterprises in Ukraine is low-hanging fruit, but not for foreign investors. A chemical factory seized from a Russian oligarch will be put up for auction this year. PJSC Vinnytsiapobuthim, a well-known manufacturer of household chemicals and cosmetics, has been transferred to the State Property Fund of Ukraine (SPFU) for future sale at auction. This was reported...

A USAID grant helps the largest Ukrainian pet food manufacturer to increase its production capacity by 22%.

A USAID grant helps the largest Ukrainian pet food manufacturer to increase its production capacity by 22%. With support from the USAID Competitive Economy Program in Ukraine, the global, family-owned Kormotech company plans to increase its dry feed production in Ukraine from 45,000 to 55,000 tons per year ...

Friday, January 17

Scholz asked to increase Germany’s national debt threshold to provide €3B in aid to Ukraine.

Scholz asked to increase Germany’s national debt threshold to provide €3B in aid to Ukraine. The ruling Social Democratic Party of Germany, to which Chancellor Scholz belongs, says that a decision on new arms supplies to Ukraine worth €3B could be made before the parliamentary elections in Fe...

Thursday, January 16

Ukraine plans to introduce taxes on income from digital platforms.

Ukraine plans to introduce taxes on income from digital platforms. With the move, the state expects to receive ₴10B annually from Glovo, Bolt, Uklon, and others. In April 2025, the Ukrainian government must submit to parliament a bill on the taxation of digital platf...

Wednesday, January 15

The US is asking Europe to seize $300B in frozen Russian assets to bring Putin to the negotiating table, but Europe opposes it.

The US is asking Europe to seize $300B in frozen Russian assets to bring Putin to the negotiating table, but Europe opposes it. Biden aides have tried to convince his European allies to support the transfer of frozen Russian assets to a new account that will only be released if a peace agreement between Russia and Ukraine is r...

Ukrainians have increased their bank savings over the years.

Ukrainians have increased their bank savings over the years. In 2024, hryvnia bank deposits increased by 15.8% (+₴257B) to ₴1.885T, and deposits in foreign currency increased by 4.2% (+$0.8B) to $20.1B, said Danylo Hetmantsev, Chairman of the Verkhovna Rada Com...

Monday, January 13

Head of Piraeus Bank in Ukraine Has Been Elected Chairman of the FLIFI.

Head of Piraeus Bank in Ukraine Has Been Elected Chairman of the FLIFI. CEO of Piraeus Bank in Ukraine, Yannis Kyriakopoulos, has been elected Chairman of the Forum of Leading International Financial Institutions (FLIFI), which operates under the umbrella of the American ...

Ukraine received $41.7B in external financing last year; the government has voiced its expectations for 2025.

Ukraine received $41.7B in external financing last year; the government has voiced its expectations for 2025. “In total, $115B has been attracted from partners since the beginning of the war,” said Prime Minister Denys Shmyhal. The EU, the US, Japan, the IMF, Canada, and the World Bank provided th...

How did Ukraine spend the nearly $42B in international financial assistance it received last year?

How did Ukraine spend the nearly $42B in international financial assistance it received last year? Last year, Ukraine received about $42B in financial support. In addition, the country received more than $3.5B by placing foreign currency government bonds. The money, according to People’s Depu...

Ukraine receives the first tranche of EU funds from frozen Russian assets.

Ukraine receives the first tranche of EU funds from frozen Russian assets. Ukraine received €3B from the EU as part of the ERA initiative, the first tranche of EU funds provided by revenue from frozen Russian assets. Ukraine will direct this to priority budget expenditures. ...

Friday, January 10

War risk insurance with a $50M limit for commercial real estate will be available in Ukraine.

War risk insurance with a $50M limit for commercial real estate will be available in Ukraine. Insurance broker McGill and Partners and Ukrainian insurance company ARX, through the mediation of Ukrainian company FortuneGuard, are launching a commercial property war risk reinsurance program for ...

Ukraine’s national debt reached 92% of GDP.

Ukraine’s national debt reached 92% of GDP. As of the end of 2024, Ukraine’s national debt reached to approximately ₴7T. Forbes analysts calculated that the ratio of national debt to GDP has reached 92%. This is the total national debt, w...

In 2025, 40% of loans issued through the eOselya program may go to the primary housing market: Which apartments are most popular?

In 2025, 40% of loans issued through the eOselya program may go to the primary housing market: Which apartments are most popular? The average cost of an apartment in the primary market purchased using a bank mortgage program is between ₴2.3M ($55,000) and ₴2.8M ($66,600), and the most common down payment amount is from 30% of th...

Thursday, January 9

State banks were the most profitable through 11 months of 2024; the banking sector increased its tax payments by 70%.

State banks were the most profitable through 11 months of 2024; the banking sector increased its tax payments by 70%. According to the NBU, solvent Ukrainian banks generated ₴131B ($3.2B) in net profit after tax from January-November 2024. The leaders in the banking sector were: PrivatBank with ₴56.3B, Oschadbank wit...

A company from the Nova group issues another ₴290M in bonds; Nova Poshta increases parcel delivery by 15%.

A company from the Nova group issues another ₴290M in bonds; Nova Poshta increases parcel delivery by 15%. NovaPay from the Nova Group of companies, which includes postal operator Nova Poshta, placed three more issues of bonds – series G, H, and I – for ₴290M ($6.9M). The 1 to 12-month issues have an inter...

Wednesday, January 8

British MPs call for frozen Russian assets to be sent to Ukraine.

British MPs call for frozen Russian assets to be sent to Ukraine. The UK should transfer all frozen Russian assets to Ukraine. This would send a clear signal to Moscow that “aggressors must and will pay.” In a joint letter, a group of British MPs and pol...

New historical record: Ukraine’s international reserves have exceeded $43.78B.

New historical record: Ukraine’s international reserves have exceeded $43.78B. As reported by the National Bank, as of January 1 2025, Ukraine’s international reserves reached over $43.787B, increasing by 9.7% during December. The volume of international reserves became th...

Lending under the eOselya preferential mortgage program increased by 65% in 2024.

Lending under the eOselya preferential mortgage program increased by 65% in 2024. In 2024, more than 8,500 families took advantage of the preferential mortgage program eOselya, and the total volume of issued loans reached ₴14.6B, 45% more in number and 65% more in amount compared t...

Ukrainian agro holding capitalization increased by more than €3.8B due to improved logistics and changes in global agricultural markets.

Ukrainian agro holding capitalization increased by more than €3.8B due to improved logistics and changes in global agricultural markets. According to calculations from industry experts, the total capitalization of agro holdings (MHP, Kernel, Agroton, Astarta-Kyiv, AgroGeneration, Milkiland, IMC, KSG Agro, Ukrprodukt, Agroliga) in the f...

The National Bank has identified the reasons behind the acceleration of price growth in Ukraine.

The National Bank has identified the reasons behind the acceleration of price growth in Ukraine. According to the NBU, in November 2024 consumer inflation in Ukraine increased to 11.2% annually, exceeding the forecasts in the October NBU Inflation Report. Core inflation reached 9.3% annually. The...

Tuesday, January 7

The EBRD is partnering with more banks in Ukraine to support local businesses.

The EBRD is partnering with more banks in Ukraine to support local businesses. Today’s signing of a €50M Risk Sharing Framework (RSF) agreement between the EBRD and Credit Agricole Ukraine will enhance the bank’s lending capacity to make loans to a greater number of ...

The market for investments and M&A in Ukraine reached $1.2B in 2024.

The market for investments and M&A in Ukraine reached $1.2B in 2024. According to analysts, the volume of announced and completed M&A deals in Ukraine, including corporate deals, venture capital transactions in the technology sector, and state-owned property privat...

Ukraine’s privatization revenue in 2024 near a record ₴12B.

Ukraine’s privatization revenue in 2024 near a record ₴12B. The total amount of revenue from large and small privatizations may reach almost ₴12B ($292M) after the completion of all of 2024’s transactions, the Ministry of Economy reports. According to th...

Monday, January 6

The Ukraine Facility provided 40% of Ukraine’s external financing for 2024’s state budget.

The Ukraine Facility provided 40% of Ukraine’s external financing for 2024’s state budget. The Ukraine Facility program provided the largest amount of external financing for the state budget in 2024 (over 40%). The total amount of funds provided by the EU amounted to €16.2B. This was made p...

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