Ukraine has eased currency restrictions to allow businesses to pay foreign loans.

Friday, June 16, 2023
Ukraine has eased currency restrictions to allow businesses to pay foreign loans.

In particular, the National Bank allowed resident borrowers to transfer funds abroad to repay certain categories of external credits and loans. The NBU also determined that residents can carry out similar operations following the terms of repayment of funds and payment of interest, according to the terms of the credit agreement.

The Central Bank predicts that due to the ease of restrictions, the amount of new credit coming into Ukraine will significantly exceed its outflow due to the return and servicing of existing loans. In addition, this will improve the conditions for attracting funds to Ukraine and contribute to the expansion of opportunities for international partners to direct financing to the Ukrainian economy’s recovery. The NBU emphasized that this was done because of the stable foreign exchange market, a sufficiently high international reserves volume, and the improvement of the situation with the maturity of funds in the banking system.

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