Contents tagged with National Bank of Ukraine
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Head of Ukraine’s National Bank resigns
The Chairman of the National Bank of Ukraine Yakiv Smolii submitted his resignation to the President of Ukraine.
Smolii attributed his decision to "systematic political pressure" on the central bank for a long time.
"This makes it impossible for me to effectively fulfill my duties as head of the National Bank and to interact with other government agencies. With my resignation, I want to warn against further attempts to undermine the institutional foundations of the central bank in Ukraine," …
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Seven National Bank of Ukraine employees arrested for embezzling $48 million
Staff from the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) in Kyiv have arrested seven people in connection with the refinancing of VAB Bank, the NABU’s press service reported on Facebook.
“These are former and current officials from the National Bank of Ukraine, PJSC VAB Bank and private companies linked to the ultimate beneficiaries of VAB Bank,” the report states.
The bureau noted that the suspects are believed to have …
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Kyiv: Ukraine has to pay 12 billion dollars to foreign lenders
The Head of the National Bank, Yakiv Smolii stated in an interview with Vox Ukraine that the Ukrainian government will have to pay about $12 billions dollars to foreign lenders in 2019-2020.
"In 2019-2020, Ukraine must repay about $12 billion of foreign debt, including interest payments. And without the IMF program, we do not have access to other funding channels: funds from the European Union, the World Bank. Therefore, the proposal to sign a new program with the IMF is reasonable," said …
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$2.38 billion transferred into Ukraine from abroad in 2017
By the end of 2017, Ukraine was infused with nearly two and a half billion dollars from abroad, Ukrinform news agency reports.
"Overall, using funds transfer systems created by both residents and non-residents [of Ukraine], in 2017, $2.378 billion was transferred to Ukraine, $286 million was sent out of Ukraine, and the equivalent of $4.456 billion dollars was transferred within Ukraine," the statement of the National Bank says.
According to the results of 2017, the international payment …
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National Bank of Ukraine reacts to government's decision to raise minumum wage
Starting on January 1st, the minimum wage in Ukraine has doubled to 3,200 hryvnias ($118). On February 3rd the National Bank of Ukraine (NBU) in its inflationary report predicted that this could lead to a decrease in employment, particularly in small and medium-sized business. According to the NBU's estimates, around 630,000 Ukrainians (or 5.4% of employees) could be left without a job. Thus, the unemployment rate will amount to about 10% according to the methodology of the International Labor …
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The National Bank of Ukraine reduces the limit on total cash payments per day
On the 3rd of January, the National Bank of Ukraine announced the reduction of the total limit amount of individual cash payments from UAH 150,000 or about $55,570 to UAH 50,000 or approximately $18,520 beginning from the 4th of January 2017.
As the website of the National Bank of Ukraine reports, the limits apply to total cash payments between individuals and enterprises per day and also between individuals themselves under sale-purchase agreements, which are subject to notarization.
However, …
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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 …