Canadian PM Justin Trudeau and his Ukrainian counterpart, Denys Shmyhal, have agreed to expand the existing Canada–Ukraine Free Trade Agreement (CUFTA), further liberalizing the flow of goods, services, and investments between the two countries, Shmyhal said in a Telegram post on April 11. The modernized CUFTA will boost Ukraine-Canada trade and create “unique opportunities for … Read more
While consumer price index continues to climb, particularly when it comes to food items, annualized inflation rate in Ukraine has decelerated to 21.3%, the State Statistics Service said in a report published on April 10. In March 2023, consumer price growth in Ukraine accelerated to 1.5%, up from 0.7% in February, while annualized inflation rate … Read more
Polish Agriculture Minister Henryk Kowalczyk announced his resignation at a press conference on April 5, citing his inability to handle the crisis related to Ukrainian grain, Polish radio station RMF FM reported on April 5. “I have resigned from the position of Minister of Agriculture and Rural Development,” Kowalczyk said. The leadership of Poland’s ruling PiS or … Read more
The negative scenario of a 10% decrease in Ukraine’s GDP in 2023 and a 2% decrease in 2024 set out in the Extended Fund Facility (EFF) program confirms the IMF’s readiness to support the country no matter what, National Bank of Ukraine Governor Andriy Pyshnyi told Interfax-Ukraine on April 5. “The program has been approved, even if … Read more
The National Bank of Ukraine’s (NBU) international reserves exceeded $32 billion after receiving the first IMF loan tranche worth $2.7 billion, NBU First Deputy Governor Kateryna Rozhkova said on national television on April 3. “Ukraine has already received the first tranche of $2.7 billion under the new (IMF) program for. Given these funds, the amount of assistance received … Read more
Ukraine was able to export 265,000 tonnes of sugar in seven months of the current marketing year (September 2022 – August 2023), which is 4.8 times more than in the entire 2021-2022 marketing year, acting Board Chairman of the National Association of Sugar Producers Ukrtsukor Nazar Mykhailovyn has said. “For the entire period of 2021/22, … Read more
The International Monetary Fund (IMF), which previously estimated the dynamics of the Ukrainian economy this year from a 3% decline to a 1% growth, is inclined to believe that GDP growth in 2023 may be at the upper limit of this range. According to the materials of the fund, published on Saturday night, this is … Read more
Members of the Monetary Policy Committee (MPC) of the National Bank of Ukraine (NBU) at a meeting on March 15 refused to tighten reserve requirements (RR) for corporate deposits, in particular, to equate the required reserve requirements for corporate deposits that have up to three months’ maturity to the requirements for corporate funds accumulated on … Read more
Ukraine will no longer return to “dangerous” money printing to cover state expenses, National Bank of Ukraine (NBU) chair Andriy Pyshnyi confirmed to the Financial Times on March 26. An “open conflict” with the Ukrainian government on this matter was settled, Pyshnyi said. Printing of billions hryvnia last year “created huge risks for macro-financial stability,” although it … 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