Ukraine fails to reach deal on restructuring $2.6 billion debt, faces default
This poses a risk that Kyiv might have to default on the payment of some $600 million ahead of the deadline in late May.
Finances
Raiffeisen Bank International's subsidiary remains invested in sanctioned Russian entities, report says
As of January, Raiffeisen Capital held around 31.7 billion rubles ($365 million) in sanctioned entities, such as the Sberbank bank or the state-owned energy giant Gazprom, the report said, citing financial documents.
Updated: Revolut denies operating in Ukraine without license after central bank's pushback
According to Ukrainian banking law, a foreign bank can only operate in Ukraine if it opens a local branch or obtains a banking license. This process must first be approved by the NBU, the bank said in the press release.
Ukraine calendar: Events to look out for this week
Editor's note: This article is an on-site version of KI Insights' public newsletter The Week Ahead, covering events from May 5-11. Sign up here to start your week with an agenda of Ukraine-related events delivered directly to your inbox every Sunday. The coming week will provide further clarity on the
Governors of Kyiv and Poltava oblasts dismissed amid position reshuffles
Ruslan Kravchenko, the governor of Kyiv Oblast, and Filip Pronin, the governor of Poltava Oblast, were dismissed on Dec. 30 and are expected to be appointed to new positions soon.
Ukraine receives $1.1 billion from IMF
The funds come as already the sixth tranche disbursed to Ukraine under the IMF's Extended Fund Facility (EFF) program, raising the amount provided so far to $9.8 billion.
Ukraine to receive $4.8 billion from World Bank
Ukraine and the World Bank signed a loan agreement worth $4.8 billion, which Kyiv will use for priority budget expenditures, the Finance Ministry said in a statement.
Ukraine may face $15 billion budget gap next year, PM Shmyhal says
Ukraine's budget deficit for 2025 will be $35 billion, but assistance from partners will cover roughly $20 billion, PM Denys Shmyhal said on Aug. 27.
Ukraine needs additional $12-15 billion from partners in 2025 'because the war will continue,' finance minister says
"Now we are constantly discussing with our partners that we need additional financial assurance because the war will continue in 2025, and we need to have a buffer," the minister said. According to Marchenko, the current pledges from partners will not be sufficient.
Ukrainian cyberattack targets Russia's central bank, source says
Ukraine's military intelligence agency (HUR) on July 29 carried out a cyberattack against the Russian central bank, a source in the agency told the Kyiv Independent.
Ukraine reaches preliminary deal with bondholders on debt restructuring
Based on the deal, Ukraine stands to save $11.4 billion over the next three years and $22.75 billion by 2033, Prime Minister Denys Shmyhal explained.
Ukrainian parliament passes law on postponing external debt payments
Proposed by President Volodymyr Zelensky's Servant of the People party, the legislation seeks to postpone payments of international sovereign debt and state-guaranteed obligations past its August deadline.
Russia, China found workarounds for payments despite sanctions, Reuters reports
After Vladimir Putin's visit to China, specially authorized smaller banks in border regions have enabled Russian entities to set up non-resident accounts with Chinese banks, Reuters wrote.
Ukraine needs $9.5 billion for rapid recovery in 2024
Ukraine needs $9.5 billion for rapid recovery this year, namely in the defense industry, energy, housing, agricultural, natural resources, and the IT sector, the Finance Ministry said on June 20.
G7 confirms agreement on $50 billion loan for Ukraine backed by Russian assets revenue
The loan should be repaid using interest from some $300 billion in frozen Russian assets.
Finance minister: Ukraine's budget lacks $5 billion for military spending
There is a gap in Ukraine's state budget of $5 billion needed for military expenditures, Finance Minister Serhii Marchenko told in an interview with Hromadske Radio on May 22.
Ukrainians have purchased $25 billion in domestic government bonds since start of full-scale war
"Thanks to the funds raised from domestic government bonds, we were able to finance more than 200 days of our security and defense, which is equivalent to 15% of Ukraine's GDP (gross domestic product) in 2023. Investments in government bonds have become the second largest source of financing for the State Budget after international aid," Finance Minister Serhii Marchenko said.
Reuters: Chinese companies go 'underground' on Russia payments
Some Chinese banks Major Chinese are limiting payments for transactions with Russia due to concerns about U.S. sanctions, Reuters reported on April 29, citing unnamed trading and banking sources familiar with the matter.
Accounting Chamber outlines reasons for Ukrzaliznytsia's Hr 12 billion in losses in 2020
State railway operator Ukrzaliznytsia's failure to fulfill its freight contracts and sell core assets were the main reasons it lost $436 million (Hr 11.9 billion) in 2020, according to a Nov. 23 report by the Accounting Chamber, Ukraine's top state auditor, that surfaced in the media on Dec. 20.
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