The IMF pushes Ukraine to raise taxes and depreciate the hryvnia, with $1.1B in new financial aid at stake. Ukrainian officials expect the IMF this week to push the country toward faster currency devaluation, lower interest rates, and to increase tax collection efforts to close the country’s budget de... #BudgetDeficit #financeUkraine #hryvniadevaluation #imf #nbu #UkraineBudget
The devaluation of the national currency against the dollar will continue in 2024. According to analysis from the ICU: “Given the NBU’s desire for devaluation and increased exchange rate volatility, we have revised the year-end exchange rate forecast to ₴42.3 per $1 comp... #CurrencyLiberalization #financeUkraine #foreignexchangemarket #Hryvnia #hryvniadevaluation #nbu
Unpopular decisions must be made: How does Ukraine plan to get along without US aid? If Ukraine does not receive $11.2B in budget support from the US (as part of a $60B aid package), the consequence will be difficult, unpopular decisions by the Ukrainian government, noted the head of ... #BudgetDeficit #DanyloHetmantsev #financialaidforUkraine #hryvniadevaluation #UkraineBudget2024 #USaidforUkraine
How did Ukraine’s economy react to the beginning of Russian aggression in 2014 and the full-scale war in 2022? Ukraine’s GDP did not fall as much in 2014 as it did in 2022, when it suffered a record-setting decline. In 2014-2015, GDP fell by 15.8%, and in 2022 – by almost 30%. However, the trajectory of ... #GDPinUkraine #hryvniadevaluation #InflationinUkraine #UkraineEconomy #WarinUkraine
Ukrainians prefer foreign currency savings despite the interest growth rate on hryvnia deposits. The yield on bank deposits has grown for the hryvnia in recent months. And in January, according to the NBU, hryvnia deposit interest rates rose by 0.1% up to 12.2% per annum. Foreign currency deposit... #ForeignCurrencyDeposits #hryvniadevaluation #UkraineDeposits
The hryvnia’s purchasing power will drop by at least half. According to the head of the National Bank, Kyrylo Shevchenko, even the current 22.2% consumer inflation per year is a significant reduction, by almost a quarter, of the real disposable income of citi... #hryvniadevaluation #InflationinUkraine #KyryloShevchenko
The NBU will keep the interest rate at 25% for the next two years. Ukraine’s central bank devalued the hryvnia and said it might keep interest rates at 25% for another two years to protect its dwindling foreign-currency reserves as Russia’s invasion ravages the econ... #hryvniadevaluation #HryvniaRate2022
