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
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘B’, the outlook is positive, the rating agency said on its website. “Ukraine’s ratings balance improved policy consistency and credibility, a record of multilateral support, and low government debt against low external liquidity relative to high financing needs associated with large … Read more
The international rating agency Fitch Ratings expects acceleration of growth of the Ukrainian economy from 3.2% in 2019 to 3.5% in 2020 and 3.8% in 2021 due to private consumption and investment. “According to official estimates, the economy grew by 3.2% in 2019 and Fitch expects growth of 3.5% in 2020 and 3.8% in 2021 … 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
Ukraine’s Verkhovna Rada has passed at second reading bill No. 2241 with amendments to the Tax Code on the reduction of the amber production royalty from 25% to 10% from 2022, and by the end of 2020 the interim rate of 5% will be in effect and in 2021 – 8%. An Interfax-Ukraine correspondent reported … Read more
Growth of Ukraine’s GDP in 2019 slowed from 3.4% in 2018 to 3.3%, while the drivers of this growth have changed, the Ministry of Economic Development, Trade and Agriculture of Ukraine said on Tuesday. “The growth of the composite manufacturing index (CMI) for goods and services by main types of economic activities slowed significantly – … Read more