Contents tagged with NBU

  • National Bank of Ukraine denies threat of default

    The Deputy Head of the National Bank of Ukraine (NBU), Dmytro Sologub, has denied that the country is in threat of default in the event of termination of cooperation with the IMF, RBC-Ukraine reports.

    According to Sologub, the country's reserves are enough to pay off debt obligations, and rumors of default and restructuring of the national debt are no more than speculation.

    "If you look at the reserves of the National Bank and compare them with the forthcoming payments, purely mathematically …

  • Ukrainian National Bank prohibits accepting a new Russian hundred-ruble bill dedicated to the World Cup 2018

    The National Bank of Ukraine (NBU) prohibited all financial institutions of the country from accepting Russian currency bills and coins depicting objects in the Crimea, UBR.ua news outlet reports, citing the regulation of the NBU.

    It is reported that a hundred-ruble bill dedicated to the FIFA World Cup 2018 and also a 3-ruble coin that was put into circulation in March this year have been banned.

    The NBU explained that the territory of the Russian Federation with annexed Crimea is depicted on …

  • World Bank calls Ukrainian reforms effective

    Representatives of the World Bank have remarked on the high effectiveness of the reforms carried out in Ukraine’s financial sector, the National Bank of Ukraine (NBU) reported on Facebook.

    “Last week as part of a tour of Eastern Europe, 10 executive directors of the World Bank came to Ukraine. As part of their visit, they had a series of meetings with domestic officials to discuss future collaboration. The World Bank representatives remarked on the high effectiveness of the reforms which have …

  • Ukraine’s National Bank and IMF negotiate fifth loan tranche

    Ukraine and the International Monetary Fund (IMF) discussed the necessary steps to obtain the country’s fifth loan tranche.  

    The National Bank of Ukraine’s (NBU) press-service reported the results of the meeting between the Ukrainian Delegation, headed by Governor of the NBU Yakiv Smolii, and the IMF’s First Deputy Managing Director David Lipton in Washington.

    “Ukraine has made significant progress in stabilizing the economy and capacity-building for growth,” IMF’s First Deputy Managing …

  • National Bank of Ukraine calls for extending sanctions on subsidiaries of Russian banks

    The National Bank of Ukraine (NBU) has deemed it necessary to prolong sanctions on banks carrying Russian state capital, said the Chairperson of the NBU Financial Stability Department, Vitalii Vavryshchuk, as RBC-Ukraine reports.

    The sanctions against five Russian bank subsidiaries - VS Bank, Sberbank Ukraine, VTB, BM Bank, and Prominvestbank - were imposed by a decree signed by President Petro Poroshenko in mid-March 2017, for one year, expiring this March.

    “Yes, we deem it necessary to …

  • Ukrainian National Bank transfers $1 billion of currency reserves under the World Bank’s administration

    The National Bank of Ukraine (NBU) has transferred up to $1 billion of the country’s gold and foreign currency reserves under the management of the World Bank, Interfax-Ukraine reported, citing a statement by the Central Bank’s deputy chairperson Oleg Churiy.

    “Currently part of the gold and foreign currency reserves [of Ukraine] is managed by the World Bank,” the Central Bank’s official said, adding that the World Bank acts as “one of the largest investment managers for central banks,” and as …

  • National Bank of Ukraine concedes an early termination of the IMF funding

    The National Bank of Ukraine believes that if Ukraine doesn’t receive the next tranche from the International Monetary Fund by July, the cooperation program will probably end, as expressed during an interview with Dmitry Sologub, NBU deputy head, with Ukrainian news.

    Sologub added, "We are reevaluating, as much as possible, but technically, the first quarter does not look viable anymore. It's more realistic to receive a tranche in the second quarter. When we receive a tranche, in the first or …

  • Poroshenko proposes a replacement for the head of the National Bank of Ukraine

    Ukrainian President Petro Poroshenko offered the Ukrainian Parliament (Verkhovna Rada) to replace the head of the National Bank of Ulraine(NBU). He suggested dismissing Valeriya Gontaryeva from the post and officially appointing her deputy, Yakiv Smolii to the position.

    On the Rada’s website, a page appeared called "Draft resolution on the dismissal of V.O. Gontaryeva from the position of the Chairman of the National Bank of Ukraine." However, the text of the decree is not yet available. …

  • Ukraine received 400 lawsuits after nationalization of Privatbank

    More than 400 lawsuits have been filed since the nationalization of Privatbank against the National Bank (NBU), the Ministry of Finance and Privatbank itself, as mentioned at a briefing by Deputy Head of the NBU, Kateryna Rozhkova.

    "Today we have more than 400 lawsuits against the NBU, Privatbank and the Ministry of Finance, all of which are connected to the process of nationalization in one way or another. Such a large number of lawsuits indicate a frank reluctance by former owners of …

  • National Bank of Ukraine warns of possible cyber-attack on Ukrainian Independence Day

    The National Bank of Ukraine (NBU) warned Ukrainian banks that on Independence Day, which is celebrated in Ukraine on August 24, a hacker attack on the country’s banking system was possible, RBC-Ukraine news agency reported citing the press service of the bank.

    "The NBU promptly informed the banks about the appearance of a new malicious code, its features, signatures of the attacks and the need to introduce preventive measures to prevent the attack," the report said.

    The description of virus, …