The National Bank of Ukraine is gradually easing currency restrictions for entrepreneurs, which helps to balance the economy as a whole and improves conditions for the development of domestic business. This was stated by Bohdan Kitsak, a member of the Verkhovna Rada Committee on Economic Development, in an exclusive commentary to UNN.
The NBU is meeting the needs of business... Gradual liberalization. It is clear that business is in favor of returning to the way things were before so that entrepreneurs can operate freely with their funds. But the NBU is working here to ensure the state's interests and to balance the economy as a whole in the context of the war. Business understands this and agrees to the gradual easing that the NBU is making,
According to him, businesses should not expect any significant easing, but the NBU will introduce gradual and small easing.
It should be noted that, in talking to businesses, there have been more frequent complaints that since the beginning of the full-scale invasion, the NBU has banned the conversion of foreign currency loans into hryvnia for businesses. Currency fluctuations have led to serious financial problems for many businesses. As a result, many entrepreneurs have found themselves in a situation where they cannot pay their obligations under foreign currency loans.
Experts in their comments to UNN note that the NBU does not need to cancel the said ban, but should consider allowing the bank and the client to individually agree on the feasibility of converting a foreign currency loan into hryvnia. This will, among other things, reduce the risk of non-repayment of such loans.
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One of the representatives of Ukrainian business who have a foreign currency loanthat dates back to 2006 is the owners of the capital's Gulliver shopping center. By the way, at the time of the loan, the company that received the loan had other owners.Currency fluctuations led to the fact that the current owners of Gulliver were forced to restructure their debt in 2020. However, it was not possible to convert the entire loan into hryvnia at that time.