Ukraine

Attacks on the National Bank of Ukraine escalate

Ben Aris in Berlin December 3, 2019

The attacks and intimidation on the National Bank of Ukraine, allegedly being carried out by oligarch Ihor Kolomoisky, went up a notch on December 3 when protestors targeted the private residence of NBU governor Yakiv Smolii.

Ukraine's current account deficit shrinks to $0.7bn in October

bne IntelliNews December 2, 2019

Ukraine’s current account deficit shrank to $0.7bn in October from $1.1bn in September due to a positive switch in the primary income balance, the National Bank of Ukraine reported.

Ukraine, Russia discuss new gas transit deal at bilateral meeting

bne IntelliNews December 2, 2019

Ukrainian and Russian ministers extended talks for a new natural gas supply contract though Ukraine at a bilateral meeting in Vienna on November 28, Ukraine's energy ministry said in a press release that day.

KYIV BLOG: Ukraine is a captured state

Ben Aris in Berlin November 28, 2019

The assault by paid-for protesters on the National Bank of Ukraine this week is more than worrying. It highlights the fact that Ukraine is a state that has been captured by the oligarchs.

Soaring hryvnia value causing problems for Ukraine

bne IntelliNews November 28, 2019

Ukraine’s hryvnia has gained 15% in value YTD and that is causing problems for the export orientated economy. The hryvnia passed the UAH24 to the dollar mark on November 27, a level it hasn't seen since 2015.

National Bank of Ukraine accuses oligarch Kolomoisky by name of attacks and intimidations

bne IntelliNews November 28, 2019

Ukraine’s National Bank of Ukraine (NBU) for the first time directly accused oligarch Ihor Kolomoisky for orchestrating a sustain campaign of physical attacks and “terror” intimidations against the bank’s current and former staff.

Ukraine has 16 days left to do a transit deal with Gazprom

Ben Aris in Berlin November 27, 2019

Time has almost run out for Russia and Ukraine to strike a new gas transit deal before the previous one expires. There are 16 days left until December 13 before it becomes impossible to reach a new agreement ahead of the expiration of the contract.

COMMENT: Turning Ukraine's ship of state around

Eric Hontz senior programme officer Europe and Eurasia at the Center for International Private Enterprise (CIPE) in Kyiv November 27, 2019

I recently watched more than 30 new members of Ukraine’s parliament give up their precious time off to spend hours in a windowless room in Kyiv to learn more about the development of the rule of law, market institutions, and policy.

Ukraine industrial output stumbles in October, dropping 5% y/y

bne IntelliNews November 25, 2019

Ukraine's economy stumbled in October, after industrial output plummeted by 5.0% year-on-year after contracting by 1.1% y/y in September, the nation's state statistics service Ukrstat reported on November 22.

IMF Blog: Frontier market borrowing binge

International Monetary Fund November 25, 2019

Rock bottom global interest rates have been a boon for so-called frontier-market countries, which have been able to borrow cheaply to finance their development needs. But there can be too much of a good thing

IMF leaves Kyiv without a deal again

Ben Aris in Berlin November 24, 2019

Talks floundered on concerns about the hold oligarch Ihor Kolomoisky has over the president, the independence of the National Bank of Ukraine and the exclusion of foreigners from the mooted creation of a land market.

Ukraine retail sales grew by 10% y/y in January-October

bne IntelliNews November 22, 2019

Ukraine retail sales advanced 10.2% year-on-year in real terms in in January-October, accelerating from 9.8% y/y, the nation's state statistics service reported on November 20.

World Bank revises upwards GDP growth forecast for Ukraine in 2019 from 3.4% y/y to 3.6% y/y

bne IntelliNews November 20, 2019

The World Bank has revised upwards its forecast for Ukraine's GDP growth in 2019 from 3.4% year-on-year to 3.6% y/y

Ukraine reports 4.2% y/y GDP growth in July-September

bne IntelliNews November 15, 2019

Ukraine's gross domestic product (GDP) grew by 4.2% year-on-year in July-September, which is higher that expected by the nation's central bank.

Ukraine on course to smash its 2019 grain harvest record, remain world’s biggest grain exporter

Ben Aris in Berlin November 13, 2019

With the winter grain harvest still underway Ukraine’s farmers have already brought in more grain this season than in all of last year and are on course to smash the previous record.

Ukraine main anti-graft agency detains former central bank governor's deputy

bne IntelliNews November 12, 2019

The National Anti-Corruption Bureau (NABU), the country's main anti-graft agency, has detained former deputy governor of the National Bank of Ukraine (NBU) Oleksandr Pysaruk among seven people who have been accused of embezzling UAH1.2bn ($49mn)

Ukraine president pledges to hold a referendum on farmland sales for foreigners

bne IntelliNews November 12, 2019

The Ukrainian authorities will allow farmland sale to foreign citizens and companies only if the Ukrainian people give consent to it at a referendum, the nation's President Volodymyr Zelenskiy said on November 11.

Ukraine’s consumer prices rose 0.7% m/m and slowed to 6.5% y/y in October, driven by food prices

bne IntelliNews. November 11, 2019

Ukraine’s consumer prices rose 0.7% m/m in October owing to growing prices for food, clothing and footwear, and alcohol and tobacco, the State Statistics Service reported. Annual inflation slowed to 6.5% y/y in October from 7.5% y/y in September.

Russia's consumer credit driven retail running out of steam, while Ukraine has a boom ahead

Ben Aris in Berlin November 10, 2019

The consumer debt profiles of Russia and Ukraine are very different. Russia’s household debt rose to 15.5% of GDP as of the end of 2018 and is just shy of its all time high of 15.6% set in 2014. Ukraine’s household debt has been falling steadily.

IMF ups the ante, demands government try and recover $15bn stolen from banks

Robert Homans in Los Angeles November 9, 2019

During the bank sector reform more than $15bn was stolen by the owners, including $7.6bn stolen by oligarch Ihor Kolomoisky from Privatbank. The IMF has demanded the government tries to recover some of this before granting a new deal.

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