Ukraine’s National Agency on Corruption Prevention (NACP) has declared Raiffeisen Bank International an international sponsor of war – over its continued operations in Russia, the agency reported on March 23. “Some well-known banks probably hope that if they continue to work in Moscow, the terrorist state will take huge loans from them to pay reparations … Read more
The World Bank has increased its estimate of how much Ukraine will need for its recovery and reconstruction to at least $411 billion, based on damages inflicted during the first year of Russia’s large-scale invasion, the Bloomberg news agency reported on March 22. The new figure, from a joint assessment by the bank, the government of Ukraine, … Read more
Russia caused another $6 billion damage to Ukraine’s infrastructure in February 2023, bringing the total amount of damage since the full-scale invasion began to $143.8 billion, said the Kyiv School of Economics’ ‘Russia Will Pay’ annual report. According to experts, damages to Ukraine’s infrastructure, education, energy, transport, trade, and healthcare continue to grow. Over 150,000 residential … Read more
Ukrainian and IMF officials have agreed on a draft for a $15.6 billion financial support program designed to last four years, the IMF said in a press release on March 21. The money will be spent on supporting Ukraine’s fiscal, external borrowing, price, and financial stability, and support its ongoing gradual economic recovery, while promoting … Read more
The Verkhovna Rada has strengthened the protection of intellectual property rights and provided for the use of a one-time monetary penalty instead of withdrawing from circulation of goods manufactured or introduced into it in violation of the relevant rights. A total of 286 MPs voted for the adoption of this European integration bill No. 6464 … Read more
Ukraine will produce nuclear fuel for domestic nuclear power units and later for export to other countries, including European ones. Minister of Energy of Ukraine Herman Halushchenko announced that the production line of the Ukrainian enterprise would produce heat-separating assemblies for nuclear reactors of nuclear power plants. In 2023, it is planned to complete licensing … Read more
Ukraine will gradually lift foreign currency restrictions imposed at the beginning of 2022 after Russia’s full-scale invasion, National Bank of Ukraine (NBU) head Andrii Pyshnyi said at a briefing on March 16. “We strongly intend and have a clear vision of how to move toward easing administrative restrictions and currency liberalization,” Pyshnyi said. Ukraine received … Read more
The National Bank of Ukraine (NBU) has decided to keep the key policy rate at 25% and introduce additional measures to ensure banking sector stability, NBU press service reported on March 17. In particular, the question of introducing a set of additional measures to strengthen the competition of banks for retail term deposits is being … Read more
The National Bank of Ukraine (NBU) has decided to keep the key policy rate at 25% per annum and, as market participants expected, and to take a number of additional measures to spur competition among the banks for retail term deposits by cutting the interest rate on overnight certificates of deposit, to 20% from 23%. … Read more
Germany’s largest defense company Rheinmetall has developed a concept for a tank plant in Ukraine and presented it to the federal government, company CEO Armin Papperger said in an interview with Swiss newspaper Neue Zürcher Zeitung on March 15. The Ukrainian government would have to approve the project before construction could begin. The facility won’t … Read more