Contents tagged with Economy of Ukraine

  • Head of Ukraine's National Bank: Ukraine must cooperate with the IMF or our reserves will melt away

    The delay in resumptions of relations with the International Monetary Fund (IMF) poses a risk for Ukraine’s financial stability, as was stated by the head of the National Bank of Ukraine (NBU), Valeriya Hontareva, at a conference in Kyiv, UNIAN reports.

    “I want to tell you that no one has any doubt that if we don’t resume cooperation with the IMF immediately … our reserves will start to melt as well as our market’s possibilities,” she said.

    The Head of the NBU noted that this year the …

  • Former Ukrainian Finance Minister had hired US lobbyists to help debt restructuring

    Before signing an agreement between Ukraine and foreign private creditors on restructuring the debt, the government of Ukraine employed American lobbyists to promote its position, as stated in an article in Ukrayinska Pravda titled ‘Battle for Washington. Lobby of Yatsenyuk-Jaresko.’

    Lobbying services were provided by an influential company, APCO Worldwide Inc., which has 600 employees in 35 countries and almost 120 million dollars of revenue in 2015. Its management mostly consists of former …

  • Ukrainian diplomat Lubkivskiy said Ukraine should have a clear strategy to return the temporarily occupied territories

    The Ukrainian leadership has no clear plan or strategy on what to do with the occupied territories, said the coordinator of the "Spravedlyvist" movement, the diplomat Markiyan Lubkivskiy on ZIK TV.

    He stressed that the public should be given a clear answer on how the Donbas will be returned and in which way: political, economic, military, and humanitarian or whichever combination of all of these factors.

    "A process of conflict settlement in the Donbass should be carried out more dynamically …

  • Ukrainian PM: Economic growth rate can be doubled in one year

    The Prime Minister of Ukraine, Volodymyr Groysman, stated that the doubling of Ukraine's economic growth rate can happen in a year contingent on industrial development and economic transition, UNIAN reported.

    “We have great opportunities. We achieved 3% growth but that can be doubled. We can give an impetus to the development of production in order to cease to be the raw type of economy that we are today,” Groysman said. Earlier, the Prime Minister announced the creation of the National …

  • National Bank of Ukraine's international reserves increased by $100 million in July

    According to tentative data from the National Bank of Ukraine (NBU), Ukraine's international reserves in July 2016 rose by $100 million, or 0.7%, to $14.82 billion.

    Since the beginning of the year, the reserves have increased by 5.9%, or by 782 million dollars. 

    As noted in the report by the NBU, the increase in reserves in July happened mainly thanks to currency purchases made by the NBU in the interbank market in the amount of 257.8 million dollars. An additional $98 million was received …

  • Ukraine's economy is growing faster than Russia's

    According to the Russian news portal, the Ukrainian economy has been showing stronger growth than that of Russia, according to the official statistics of the two countries. In the fourth quarter of 2015, Ukraine’s GDP did not fall as steeply as Russia’s, and, in the first quarter of 2016, even rose slightly in contrast to the fall of the Russian index. This year, the Russian economy will shrink by 0.2%, the Ministry of Economic Development believes. The World Bank is more pessimistic …

  • Polish Ministry of Development funds project to support Ukrainian businesses

    The Polish Ministry of Development is funding a project in Kiev to support small and medium businesses in Ukraine,  Radio Polsha reported.

    “The project, which aims to improve the attractiveness of Ukraine’s investments and competitiveness in the regions, funded under Polish development aid from the Polish Ministry of Development, has begun,” a statement issued by the Ministry read.

    The Polish Ministry has allocated €800,000 for the program.

    The project provides training and advice on …

  • Foreign investment in Ukraine has increased considerably since 2014

    According to the Ukrainian Venture Capital and Private Equity Association, $132 million was invested in Ukrainian companies in 2015. As noted, these funds were largely private and venture investments in IT companies. According to the results of the study, only 66 contracts were signed in 2015, but the total amount of investments is higher than in 2014 by 237%, Ekonomichna Pravda reported.

    The creation and improvement of the investment climate in Ukraine is the main task of the Association.   …

  • Dragon Capital: Investments in Ukraine are growing faster than expected

    Foreign direct investments in Ukraine are growing faster than expected. According to Dragon Capital investment company, nearly $2 billion was “poured” into the Ukrainian economy between January and April. Data from last year suggested that $4 billion was expected for the whole year. Ukrinform reported that this was said by the CEO of Dragon Capital, Tomas Fiala.

    “If you look at the statistics on foreign investment over the last two years, there are some improvements. In 2014, the amount …

  • Moody's improved the outlook for Ukraine's banking system

    Moody's Investors Service changed the outlook for Ukraine's banking system from “negative” to “stable,” according to the agency’s press release. The change in outlook reflects their view that the country’s economy has started to emerge from a deep recession and will continue to do so in the next 12 to 18 months, which will help contain further asset quality deterioration.

    In turn, improved funding conditions will support core lending and the local currency's recent stabilization will help slow …