Foreign investors can only withdraw interest on Ukrainian government bonds abroad.

The National Bank of Ukraine will only allow foreign investors to withdraw interest on OVDPs received after April 1, 2023. The central bank postponed the decision on repatriating the principal amount invested in the bonds until a significant reduction in security and macroeconomic risks takes place.

According to the NBU’s estimates, the interest payment volume for OVDP to non-resident investors from April 1 to the end of 2023 will amount to about $120M. The amount may increase depending on additional securities purchases by non-resident investors with interest payments after April 1, but this will not cause significant pressure on Ukraine’s international reserves.

The central bank expects that the possibility of interest repatriation will create incentives for non-residents to reinvest the invested principal amount and accumulated hryvnia funds in new bonds.