The National Bank of Ukraine (NBU) has settled the possibility for nonresidents to deposit cash in foreign currency into the accounts of customs authorities in an authorized bank or institutions that provide budget treasury services as cash collateral during the transit of goods throughout Ukraine, the NBU said on its website on Friday, April 24. … Read more
The volume of venture capital raised by Ukrainian IT companies and startups in 2019 amounted to $510 million, which is 1.5 times higher than the maximum of 2018, according to a review by the Ukrainian Venture Capital and Private Equity Association (UVCA). “The number of deals in 2019 was almost the same as in 2018: … Read more
Fitch Ratings has revised the Outlook on Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Positive and affirmed the IDR at ‘B’. “The revision of Ukraine’s Outlook to Stable reflects the significant impact of the COVID-19 pandemic… The heightened macroeconomic and fiscal risks associated with this unprecedented global shock will partially reverse Ukraine’s … Read more
The Board of the National Bank of Ukraine has decided to cut the key policy rate from 10% to 8%, the NBU said in a statement on Thursday. “Together with other measures taken by the NBU, such as expanding its set of liquidity support tools and the introduction of preferential terms for borrowers by banks, … Read more
Ukraine’s eurobonds and Value Recovery Instruments (VRI) rose sharply on Tuesday, March 31, after the Verkhovna Rada adopted the land market law, passed at first reading the so-called “anti-Kolomoisky” law and appointed Serhiy Marchenko Finance Minister, which sharply increases the chances of Ukraine getting IMF financing and other IFIs. As market participants told Interfax-Ukraine, on … Read more
The Verkhovna Rada of Ukraine has passed at first reading a bill on the improvement of some control mechanisms in the sphere of banking activities, which is one of two preliminary conditions for the conclusion of an agreement with the International Monetary Fund (IMF). An Interfax-Ukraine correspondent reported that 267 parliamentarians voted in favor of … Read more
The High Court of Justice handed down a public judgment in respect of and pursuant to the Partial Final Awards (the Awards) issued by the Tribunal on June 13, 2019 in the ongoing LCIA arbitration proceedings concerning the PrivatBank eurobonds issued in 2010 and 2013. This decision, which effectively upholds the Awards and the Tribunal’s … Read more
The European Union (EU) has backed the decision to zone the case of avian influenza in Ukraine, thus, lifting its ban on imports of poultry from the entire territory of Ukraine imposed several weeks ago, Deputy Minister of Economic Development, Trade and Agriculture, Ukraine’s Trade Representative Taras Kachka has said on his Facebook page. “We … Read more
The National Commission for Communications and Informatization Regulation (NCCR) of Ukraine has allowed mobile operators to begin eliminating fragmentation of the radio frequency spectrum in the 824-960 MHz bands aiming at further transforming the operators’ licenses to launch 4G communication (LTE) in the indicated bands. “The regulator gives a start to the redistribution of frequency … Read more
The National Bank of Ukraine (NBU) has permitted nonresident banks to sign agreements on sale and purchase of foreign currency for hryvnias between each other, settling payments through correspondent accounts in Ukrainian bank, the NBU has reported on its website. “From now on, foreign banks will be able not only to sign agreements on purchase … Read more