Finance

Monday, May 9

Former Ukrainian finance minister Jaresko says the cost to rebuild Ukraine “could be up to $1 trillion” (by Mike Buryk)

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...

New strategic directions for public sector banks during martial law.

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...

Friday, May 6

Britain revokes Moscow Stock Exchange’s recognized status.

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...

Germany allocates €125M to support Ukraine.

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...

Ukraine has launched a global fundraising platform, United24.

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...

Wednesday, May 4

Ukraine’s international reserves fell by another $1.5B.

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 ...

Tuesday, May 3

Entrepreneurs have received 738 loans under the Affordable 5-7-9% Loan program.

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...

The Payoneer payment platform has been integrated into Privat24.

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 ...

Inflation in Ukraine may exceed 20%.

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...

Monday, May 2

Ukraine has received an €88.5M grant from the World Bank fund and expects €495M more.

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. &#...

Friday, April 29

The National Bank of Ukraine has increased the buyout of military bonds in April.

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)....

Thursday, April 28

Oschadbank is issuing UAH 200M in loans to farmers every day.

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...

Ukraine’s international reserves amount to $27B.

Ukraine’s international reserves amount to $27B. Ukraine’s international reserves as of April 22 amounted to about $27B, and now are at the same level as at the beginning of the war, said the Chairman of the National Bank of Ukraine, Kyrylo S...

Friday, April 22

Alfa-Bank Ukraine to transfer their voting rights to Simeon Djankov.

Alfa-Bank Ukraine to transfer their voting rights to Simeon Djankov. Alfa-Bank Ukraine to transfer their voting rights to Simeon Djankov.

Tuesday, April 19

The Ministry of Finance will hold auctions to sell military bonds.

The Ministry of Finance will hold auctions to sell military bonds. The Ministry of Finance of Ukraine will hold auctions to place Ukrainian military bonds denominated in hryvnia, dollars, and euros. It is noted that the ministry has had auctions for the sale of milit...

State-owned Oschadbank ended the first quarter with a profit.

State-owned Oschadbank ended the first quarter with a profit. The State Savings Bank ended the first quarter of 2022 with a profit: a positive financial result of UAH 243.6M ($8.1M). Compared to the same period last year, when profit figures amounted to UAH 252...

Monday, April 18

Ukraine seeks $50B to cover the budget deficit.

Ukraine seeks $50B to cover the budget deficit. Ukraine has asked the G7 nations for $50B in financial support and is also considering issuing 0% coupon bonds to help it cover a war-linked budget deficit over the next six months, the president̵...

Friday, April 15

The National Bank of Ukraine has again kept the discount rate at 10%.

The National Bank of Ukraine has again kept the discount rate at 10%. At a scheduled meeting of the Monetary Policy Committee, the National Bank of Ukraine again decided to keep the discount rate at 10%, given the ongoing war with Russia. “It has been decided to p...

Monday, April 11

The money from the IMF will be spent on budget needs.

The money from the IMF will be spent on budget needs. The National Bank of Ukraine thanked the countries through whose initiatives the International Monetary Fund has created a special account to support Ukraine. The funds will go to the needs of the bud...

Thursday, April 7

Russia’s war against Ukraine could last months or even years.

Russia’s war against Ukraine could last months or even years. Russia’s war against Ukraine could last for months or even years, so NATO countries must consider long-term plans to continue helping Ukraine strengthen its security, stated NATO Secretary-Gener...

The Stripe payment system in the Ukrainian market may accelerate.

The Stripe payment system in the Ukrainian market may accelerate. Etsy Marketplace is ready to consider the possibility of opening a platform for Ukrainians. The NBU and Visa have joined the dialogue with the Stripe team reported the Ministry of Digital Transformati...

The share of NPL in the banking sector fell to 26.6%.

The share of NPL in the banking sector fell to 26.6%. In the banking sector of Ukraine, the share of non-performing loans (NPL) decreased by 2.9 percent in February to 26.6% , down from 29.5%, as reported by the National Bank of Ukraine. It is noted that...

The Solidarity Trust Fund of Ukraine will make massive investments.

The Solidarity Trust Fund of Ukraine will make massive investments. The President of the European Council, Charles Michel, emphasizes that the European Union will continue to support Ukraine. “We will continue to support Ukraine in humanitarian and material ter...

Wednesday, April 6

JP Morgan has called on the US to develop a Marshall Energy Plan for Europe.

JP Morgan has called on the US to develop a Marshall Energy Plan for Europe. In an annual letter to investors, JP Morgan CEO Jamie Damon called on the Biden administration to take a stronger stance against the “new serious geopolitical realities” that emerged afte...

Monday, April 4

Ukraine’s GDP decline in the first quarter of 2022 is 16%, and the annual decline may reach 40%.

Ukraine’s GDP decline in the first quarter of 2022 is 16%, and the annual decline may reach 40%. Industries in which remote work is impossible have suffered the most. These are air and sea transportation services, where the business works directly with consumers. Although many companies have sus...

Thursday, March 31

Ukraine has already received more than $3B in aid and expects another $10B.

Ukraine has already received more than $3B in aid and expects another $10B. Prime Minister Denis Shmyhal says that Ukraine has already received more than $3B in international financial support, and another $10B is being negotiated. The Prime Minister also noted that authorit...

Ukraine’s Eurobonds rose by 14.5% after the Istanbul talks.

Ukraine’s Eurobonds rose by 14.5% after the Istanbul talks. Ukraine’s Eurobonds rose by an average of 14.4% on Tuesday following the news of the negotiations between Kyiv and Moscow in Istanbul. Securities maturing in 2022-2024 rose in price by 10.6-12....

Legal and tax guidelines will be simplified for IT companies in Diia.City during martial law.

Legal and tax guidelines will be simplified for IT companies in Diia.City during martial law. The Ministry of Finance stated the conditions of the legal and tax requirements of Diia.City will become even easier for IT companies. What has changed: The criteria for residency have been simplifie...

The Ministry of Finance expands lending under the program “5-7-9%”.

The Ministry of Finance expands lending under the program “5-7-9%”. The Ministry of Finance is ready to expand preferential lending to entrepreneurs under the terms of the updated State Program “Affordable Loans 5-7-9%”, said Serhiy Marchenko. “The ...

Tuesday, March 29

A new auction for military bonds is scheduled for March 29.

A new auction for military bonds is scheduled for March 29. The Ministry of Finance has announced another auction to sell military bonds on March 29. The funds raised will be used to ensure the Ukrainian state budget’s priority expenditures under martial law. ...

Friday, March 25

Ukraine’s budget receives more than $2B and €1B in international aid.

Ukraine’s budget receives more than $2B and €1B in international aid. These include $1.4B in assistance from the IMF macro-financial assistance, €600M from the European Union, €312M from the World Bank, and €400M from the European Investment Bank. Minister of Finance Se...

Thursday, March 24

The NBU reaches an agreement with the National Bank of Poland on $1B currency swap.

The NBU reaches an agreement with the National Bank of Poland on $1B currency swap. The National Bank of Ukraine and the National Bank of Poland signed an agreement on a currency swap of the hryvnia / US dollar in the amount of up to $1B. “It is difficult to overestimate the a...

Wednesday, March 23

S&P Global to withdraw all outstanding ratings on Russian entities.

S&P Global to withdraw all outstanding ratings on Russian entities. The decision comes weeks after parent company S&P Global said it was suspending commercial operations in Russia, joining a global exodus of companies out of the country due to tightening economic...

Oschadbank has started lending to farmers for the sowing season.

Oschadbank has started lending to farmers for the sowing season. According to the bank, Ukrainian farmers will receive up to 80% of loans secured by state guarantees and loans at 0% for the period of martial law and during the first month after its termination. Th...

More than 2,000 Ukrainians have acquired military bonds.

More than 2,000 Ukrainians have acquired military bonds. As of March 21, more than 2,000 citizens and representatives of Ukrainian business became owners of military IGLBs worth almost UAH 4B and $742,000, reported the National Bank of Ukraine. Since the b...

The world’s largest cryptocurrency exchange has disconnected sanctioned Russian banks from P2P.

The world’s largest cryptocurrency exchange has disconnected sanctioned Russian banks from P2P. The State Financial Monitoring Service of Ukraine addressed Binance with a corresponding request. In the appeal, the service noted that the number of cryptocurrency operators storing cryptocurrency a...

Tuesday, March 22

The IMF might establish a Fund for Support of Ukraine.

The IMF might establish a Fund for Support of Ukraine. The Deputy Head of the National Bank of Ukraine, Serhiy Mykolaychuk, said that a special fund to support Ukraine might be created through the International Monetary Fund, reported Forbes. “The fund wi...

Ukraine’s economy could shrink by up to 35% in 2022.

Ukraine’s economy could shrink by up to 35% in 2022. According to the IMF, Ukraine’s war-ravaged economy could shrink by up to 35% this year if Russia’s invasion becomes a protracted conflict, the International Monetary Fund has warned. In an initial a...

Monday, March 21

The president signed a law on tax incentives for businesses during the war.

The president signed a law on tax incentives for businesses during the war. President Volodymyr Zelenskyy signed a law defining the peculiarities of the administration of taxes and fees during the martial law regime. According to the law, from April 1, 2022, until the termin...

Thursday, March 17

Inflation is likely to hit 20% this spring.

Inflation is likely to hit 20% this spring. The Consumer Price Index (CPI) grew 1.6% MoM in February, accelerating annual CPI growth to 10.7% YoY. Last month, most of the price hikes were concentrated in fuel and staple foods, the items which h...

The financial sector functions despite the war.

The financial sector functions despite the war. Since the start of the war, the official exchange rate has been frozen at USD/UAH 29.25 and EUR/UAH 33.17. Exports have mostly halted, while imports were reduced to a government-specified list of cri...

Wednesday, March 16

One of the largest American banks, Citigroup, is closing all its branches in Russia.

One of the largest American banks, Citigroup, is closing all its branches in Russia. The American bank Citigroup will close its operations in several areas and will not attract new customers, announced Citigroup.” We are moving with urgency to complete our assessment of our ope...

Tuesday, March 15

Cryptocurrency transactions in Japan to comply with sanctions against Russia.

Cryptocurrency transactions in Japan to comply with sanctions against Russia. The Japanese government has ordered cryptocurrency exchanges not to process transactions related to cryptocurrencies that are subject to sanctions on the freezing of assets of Russia and Belarus due t...

Monday, March 14

Ukraine ends its cooperation with IMF under the Standby program.

Ukraine ends its cooperation with IMF under the Standby program. The Ukrainian authorities have ceased collaboration with the International Monetary Fund within the framework of the Standby program, the second revision of which began a day before the war, reported ...

The US will revoke trade privileges from Russia and block loans to it from the IMF.

The US will revoke trade privileges from Russia and block loans to it from the IMF. A statement from the White House said the measures called for denial of Russian loans to international financial institutions such as the International Monetary Fund, increased sanctions against Russi...

Ukraine has received $2.2B in aid from international partners.

Ukraine has received $2.2B in aid from international partners. Last week Ukraine received the equivalent of $2.17B in financial assistance from international partners, announced the Ukraine Ministry of Finance. In particular, the state budget’s general fund...

Russia lost $30B of its GDP in two weeks of the war against Ukraine.

Russia lost $30B of its GDP in two weeks of the war against Ukraine. Two weeks after Russia’s invasion of Ukraine, the aggressor has suffered almost the worst economic decline since the crisis of the 1990s, which has already reduced Russia’s GDP by $30B, o...

Thursday, March 10

EBRD unveils the €2B resilience package in response to the war on Ukraine.

EBRD unveils the €2B resilience package in response to the war on Ukraine. The European Bank for Reconstruction and Development (EBRD) has announced an initial €2B resilience package of measures to help citizens, companies, and countries affected by the war on Ukraine. Fund...

Ukrainian banks retain stability and liquidity.

Ukrainian banks retain stability and liquidity. Despite the deployment of military operations on Ukrainian territory, banks have maintained stability and liquidity, said the chairman of the National Bank, Bohdan Danilishin. Thus, as of February 1,...

Wednesday, March 9

S&P downgrades the credit ratings of Gazprom, Rosneft, and Russian Railways.

S&P downgrades the credit ratings of Gazprom, Rosneft, and Russian Railways. The international rating agency S&P downgraded the credit ratings of more than 50 of Russia’s largest companies in the field of fuel and energy, construction, and communications in local an...

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