Russia’s banks operating in Ukraine are under extreme pressure and may have to close or sell their businesses as non-performing loans (NLPs) soar and customers close thier accounts because of the low watt war with Russia.
Russia and Ukraine are in focus, as both are expected to begin their recoveries. But the view and situation of the two foes is very different: pundits are probably overly optimistic about Ukraine and overly pessimistic about Russia.
Ukraine's gross international reserves grew by 1.8% in December to $15.539bn (by 17% during the previous year), the National Bank of Ukraine (NBU) said in a statement on January 5.
An oligarch’s call for “painful compromises with Russia” has triggered a storm of accusations among Kyiv-based pro-Western activists, reformers and some lawmakers about surrender.
The government has effectively forgiven PrivatBank's former owners about $6bn that they are thought to owe the lender.
Ukraine’s politicians remain unpopular. The ruling Poroshenko Bloc would barely squeak into the Rada parliament if elections were now held with only 5.8% of the votes, according to a poll by KIIS in December.
New management of Ukrainian lender says it will "try to find common ground" with Eurobond holders.
A Kiwi.com survey has produced a “Christmas Price Index” that shows Bratislava and Kyiv to be the two most affordable capitals in the world to enjoy Christmas shopping, eating, drinking and entertainment.
The Ukrainian authorities and analysts believe any negative impacts from the nationalisation of PrivatBank will be limited and could improve the country’s chances of securing the next tranche of bailout cash from the IMF.
Some $595mn of PrivatBank’s Eurobonds have been converted into worthless shares in the insolvent bank.
Ukraine's fixed investment and trade figures improved significantly in the third quarter of 2016 as the burgeoning recover gets under way.
The Ukrainian parliament supported on December 21 the state budget for 2017, which should help Kyiv secure new funding from the IMF.
In Ukraine the end of December and beginning of January is always a silent period, when most of events and problems slow down. But those problems don’t go away.
Of $5.6bn feared missing from the capital of Ukraine’s PrivatBank, which the government began to nationalise from December 19, bne IntelliNews traced some $3.1bn (€3bn) that evaporated through a small cluster of European banks since 2014.
President says nationalisation necessary to save the bank and protect depositors.
Analysts fear the hole in the oligarch-owned bank's books could reach UAH150bn ($5.7bn).
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