The Cabinet of Ministers of Ukraine appealed to the National Bank of Ukraine (NBU) with a request to allow the sale of currency to large Ukrainian companies and holdings and its further transfer for settlements on eurobonds and with Western creditors. The corresponding applications for individual permits for cross-border transfers of currency values are formalized … Read more
The NBU has reduced its forecast for Ukraine’s international currency reserves by the end of 2024, the bank stated in a press conference. “International assistance will remain the main source of capital inflows to the country in the future.” At the same time, NBU notes that future assistance will be enough to maintain a sufficient … Read more
The National Bank of Ukraine (NBU) has decided to maintain the key interest rate at 15%, with an expectation of a gradual reduction starting in the second half of 2024, the NBU press service said on Jan. 25. “This decision comes along with the need to maintain exchange rate sustainability, keep inflation moderate in 2024, … Read more
Ukrainians residing abroad continue to contribute significantly to the currency outflow; however, a 28% reduction is anticipated in 2024, decreasing from $18 billion to $13 billion, NBU deputy chief Serhiy Nikolaychuk said during a press briefing on Jan. 25. “In 2022, this outflow was nearly $20 billion. Last year, it slightly decreased to around $18 billion,” he said. … Read more
The privatization of state-controlled banks, the number of which has increased to five, and the market share in terms of assets to 56% based on the results of January-September 2023, can begin even before the end of the war, First Deputy Governor of the National Bank of Ukraine (NBU) Kateryna Rozhkova has said. “If some … Read more
The full-scale Russian invasion of Ukraine has cost the country a third of its GDP, National Bank of Ukraine (NBU) chairman Andriy Pyshnyi in an interview on Ukrainian TV channel We are Ukraine on Jan. 7. “Ukraine’s critical dependence on international financial assistance remains,” noted Pyshnyi. “This source is fundamentally important for us, as the … Read more
The National Bank of Ukraine (NBU) is confident in the lawfulness of the decision to withdraw the systemic Sense Bank (formerly Alfa-Bank, Kyiv) from the market, since it was adopted in strict accordance with the laws “On the National Bank of Ukraine,” “On Banks and Banking Activities,” “On the Household Deposits Guarantee System,” the NBU … Read more
Ukraine saw a significant drop in inflation accompanied by robust economic growth in 2023, Andriy Pyshnyi, the Ukrainian National Bank’s (NBU) head, said in an interview with the “We are Ukraine” YouTube channel on Jan. 6. “At the beginning of the year, inflation was 26%, the forecast predicting zero economic growth, immense uncertainty, and a … Read more
Most members of the monetary policy committee of the National Bank of Ukraine (NBU) see the possibility of lowering the refinancing rate by 1-2 percentage points (p.p.) during 2024 from the current 15%, but several of their colleagues believe that it is advisable to keep the rate at the existing level, the central bank published … Read more
The National Bank of Ukraine (NBU) conducted a stability assessment for the 20 largest banks, which collectively have more than 90% of the country sector’s net assets, and identified the need for additional capitalization of five banks, but two of them have already managed to increase capital adequacy to targeted standards following the audit. “Based … Read more