National Bank of Ukraine

In two months, banks have received more than 7. 3 thousand applications for lending to energy infrastructure restoration projects. Applications worth almost UAH 4 billion have been approved, of which UAH 607 million are already being used by businesses.

Economist Vasyl Povoroznyk believes that the NBU is ready to gradually liberalize restrictions. This could solve problems with the conversion of foreign currency loans and revive economic activity.

The IMF requires an open competition for the position of the DGF director, but the authorities can appoint the head in a closed mode. Experts warn that ignoring the IMF's requirements could lead to the loss of critical financial assistance.

Law enforcers do not like to investigate economic crimes, says the former judge.

The National Bank of Ukraine has set the official hryvnia exchange rate at 40. 9847 UAH/USD, strengthening it by 5 kopecks. The euro exchange rate is set at 44.76 UAH/euro, and the dollar is trading at 41.87-41.92 UAH on the interbank market.

The security expert believes that the director of the NBU's legal department, Zyma, should be suspended for the duration of the investigation. He called corruption an incurable disease in Ukraine that requires decisive action.

The National Bank of Ukraine is gradually easing currency restrictions for entrepreneurs. This helps to balance the economy and improves the conditions for the development of domestic business, although no significant easing is expected.

Given Ukraine's total dependence on external financing, it is dangerous to ignore the IMF's recommendations, the expert says.

MP Mykhailo Tsymbalyuk said that the tax service in Ukraine has not become a service and needs to be reformed. He pointed to the problems of corruption, blocking of tax invoices and lack of responsibility of the management.

The expert believes that criminal cases against NBU officials have a negative impact on negotiations on financial assistance to Ukraine. This complicates the dialog with international partners and may lead to stricter requirements.

The National Bank of Ukraine has set the official hryvnia exchange rate at 41. 0381 UAH/USD, strengthening it by 16 kopecks. The euro exchange rate is set at 44.79 UAH/euro, and the dollar is trading at UAH 41.01-41.03 on the interbank market.

Ukrainian businesses and individuals increased their investments in government bonds by UAH 16 billion in July. The Ministry of Finance raised UAH 38 billion from the issue of domestic government bonds, of which UAH 35.5 billion were military bonds to finance the needs of the state.

Economist Ihor Garbaruk believes that the Big Mac Index is not indicative of Ukraine. He suggests focusing on the Borsch Index, which better reflects the purchasing power of Ukrainians and the economic situation in the country.

Ukraine's international reserves decreased to USD 37. 2 bn in early August due to the NBU's foreign currency sales. However, after receiving a $3.9 billion grant from the US, the reserves exceeded $40 billion.

Naftogaz Group companies produced 8. 6 bcm of commercial gas in seven months of 2024. This is 10% more than in the same period last year, thanks to new wells and technologies.

The Cabinet of Ministers is launching a pilot project for residents of 4 regions who will receive gas in cylinders as humanitarian aid. Local authorities will collect applications from citizens and pass them on to gas distribution networks.

SBI investigators are obliged to open criminal proceedings within a day of receiving a court order. For failure to comply with the decision, they can be brought to disciplinary responsibility, said lawyer Serhiy Lysenko.

Ukraine should implement the IMF's recommendations regarding an open competition for the position of the head of the Deposit Guarantee Fund, as this will determine the financial assistance, the expert believes.

Ihor Mosiychuk believes that Oleksandr Zyma should be suspended from his positions at the NBU and the Deposit Guarantee Fund for the duration of the criminal investigation. The former MP explains the lack of suspension by the mutual responsibility in the government.

The National Bank of Ukraine has set the official hryvnia exchange rate at 41. 1966 UAH/USD, strengthening it by 3 kopecks. The euro exchange rate is set at 45.14 UAH/euro, and the dollar is trading at 41.11-41.13 UAH on the interbank market.

During the war, the portfolio of "bad loans" in Ukraine increased by 37%. Hetmantsev proposes to create a bank of "bad assets" to settle bad debts accumulated during the war.

The court ordered the SBI to open a criminal case against STS officials.

The leadership should remove Zyma from the positions of director of the NBU's legal department and head of the DGF's administrative council for the duration of the criminal investigation, the former MP believes.

The National Bank of Ukraine has set the official hryvnia exchange rate at UAH 41. 2250/USD, which devalued the hryvnia by 9 kopecks. Here are the exchange rates in banks, exchange offices and on the interbank market.

Since the beginning of the war, the NBU has transferred over UAH 35. 9 billion for defense needs from a special account. As of August 1, 2024, the account balance exceeded UAH 1.3 billion.

NBU Governor Andriy Pyshny said that Ukraine does not only rely on international assistance to finance its budget deficit. It is planned to expand the domestic resource base to reduce the deficit to 10.3% in 2026.

Despite the war in Ukraine, the process of removing banks from the market has not stopped. Thus, as of February 24, 2022, the liquidation process was initiated against 8 banks. Last year, for the first time in Ukraine, not only bankrupt banks but also profitable institutions were subject to liquidation and license revocation, including Concord Bank.

NBU Governor Andriy Pyshnyi said that the foreign exchange market remains stable due to sufficient international reserves. The reserves are expected to grow to $41 billion in 2024.

The National Bank of Ukraine forecasts a decrease in international reserves to $32 billion by the end of 2026 due to a reduction in financial assistance and currency outflows. The reserves will remain sufficient to ensure the stability of the foreign exchange market.

The National Bank estimated GDP growth in the second quarter of 2024 at 3. 7% and forecasts a slowdown to 3.1-2.3% in the third and fourth quarters. The reasons are the destruction of energy infrastructure and electricity shortages.