Contents tagged with NBU

  • Ukraine to pay $15.7 billion in foreign debt in 2019

    Ukraine will have to pay $15.7 billion in foreign debt, the press service of the National Bank of Ukraine (NBU) reported. According to the NBU, Ukraine will pay $5.609 billion in the first quarter. In the second and third quarters, the amount of payments will fall to $3.608 billion and $3.919 billion, respectively. In the third quarter of 2019, Ukraine will have to pay $ 2.519 billion.

    According to the NBU, the largest payment will be for non-banking sectors of economy and will reach $2.922 …

  • Ukraine's National Bank fines Sberbank's subsidiary

    The National Bank of Ukraine (NBU) press service reported that the NBU fined Sberbank’s subsidiary in the amount of 94.7 million hryvnias (more than 3.4 million) for violating financial monitoring legislation.

    It is noted that the Ukrainian regulator fined Sberbank “for repetitive risky behavior in the field of financial monitoring for a total amount of over 3 billion UAH” (over $108 million).

    According to the NBU, Sberbank allowed continuous major financial cash withdrawals from corporate …

  • Media: IMF’s new program for Ukraine has four conditions

    In order to be considered for a new International Monetary Fund (IMF) program, Ukraine must meet at least four conditions, Evropeiska Pravda reports.

    “It is already clear that Ukraine does not comply with 100% of the Extended Fund Facility (EFF) program signed in 2015,” the article observes.

    This is why the parties have put their money on a second option: to agree on a new, shorter collaboration program. According to government sources, the program in question would be a stand-by program for $ …

  • Media: Ukrainian exporters keep foreign currency revenue in offshore companies

    Ukrainian business owners minimize their tax base by registering offshore companies and by keeping their foreign currency revenue in the accounts of companies registered in countries with a low tax load. According to the National Bank of Ukraine (NBU), more than a third of all foreign direct investments (FDIs) coming into Ukraine since the end of 2017 have come from countries with a low tax load. Furthermore, nearly 100% of direct investments from Ukraine have also been sent into low-tax …

  • 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, 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 …