Ukraine's President Zelenskiy declares $1mn income in 2019

bne IntelliNews June 1, 2020

Ukrainian President Volodymyr Zelenskiy had charges of hypocrisy levelled at him after he declared an income of UAH28mn ($1mn) in his official tax return for 2019, reported on May 30.

Real wages in Ukraine dropped 0.4% y/y in April, after growing 9.3% y/y in March

bne IntelliNews May 29, 2020

Real wages in Ukraine dropped 0.4% y/y in April, after growing 9.3% y/y growth in March, the State Statistics Service reported on May 28. The average monthly nominal wage declined to UAH10,430 a month ($383) from UAH11,446 in March, -9.6%.

Foreign share of Ukraine's domestic bonds falling, demand for fresh debt spluttering

Ben Aris in Berlin May 28, 2020

Foreign investors piled into Ukraine’s local debt market since it was hooked up to Clearstream’s international payment and settlement system last March, investing $5bn, but now they are selling

Ukraine’s real wage gains still positive but fall in dollar terms in March

bne IntelliNews May 27, 2020

The average income in Ukraine has been rising steadily in recent years and rose from a mere UAH6.659 ($221) in January 2017 – making Ukrainians the poorest people in Europe – to almost double to UAH10.727 ($439) this January.

KYIV BLOG: Ukraine battered by the winds of crisis, but still standing on its feet

Ben Aris in Berlin May 26, 2020

As one of the poorest countries in the region that is in a very weak macroeconomic position, Ukraine is one of the most vulnerable to the series of external shocks delivered in the last two months.

Industrial production in Ukraine tumbles by 16.2% year on year in April

bne IntelliNews May 25, 2020

Industrial production in Ukraine in April 2020 fell by 16.2% year on year, compared with the March drop of 7.7%, February’s fall of 1.5% and January’s contraction of 5.1%, the State Statistics Service said on May 23.

Ukraine secures agreement with IMF over new $5bn, 18-month programme

bne IntelliNews May 22, 2020

The International Monetary Fund signed off on a new staff level 18-month Stand-by Arrangement with Ukraine on the same day that Ukrainian President Volodymyr Zelenskiy signed the new anti-Kolomoisky banking bill into law.

PS752 Tragedy - Ukrainian aviation investigation head suggests passengers were out of their seats

bne IntelIiNews May 20, 2020

Official releases more inside information on shooting down of passenger plane as Kyiv and Tehran fail to resolve differences on direction of probe.

Business rallies to help in fight against coronavirus across Eastern Europe and Central Asia

Ben Aris in Berlin May 20, 2020

Business leaders across the Former Soviet Union are using some of the riches they have amassed in the last three decades to help in the fight against the coronavirus.

Ukraine’s coronavirus epidemic reaches peak

bne IntelliNews May 15, 2020

The number of recovered cases from the COVID-19 epidemic exceeded the number of newly infected on May 13 for the first time since the pandemic began in Ukraine, Health Minister Maksym Stepanov told a press briefing.

Ukraine parliament adopts IMF-demanded banking law

bne IntelliNews May 13, 2020

Ukraine's parliament, the Verkhovna Rada, has adopted the so-called anti-Kolomoisky bank law in a final reading on May 13 that bans the return of failed banks to their former shareholders and clears the way for Kyiv to sign off on a new IMF deal.

Retail sales under lockdown across Central and Eastern Europe are sinking

bne IntelliNews May 12, 2020

A worldwide lockdown has created havoc for retailers as their customers are forced to stay at home. There has been a little respite as sales in March surged due to panic buying but that has given way to a lockdown that keeps stores closed

Inflation in Ukraine slowed to 2.1% in April

bne IntelliNews May 11, 2020

Inflation in Ukraine slowed to 2.1% in April year on year from 2.3% in March, according to the State Statistics Service. Month-on-month inflation remained flat at 0.8% compared to March.

After a year in office Zelenskiy is still struggling to end the Donbas conflict

Lindsay Mackenzie in Glasgow May 8, 2020

When Russia orchestrated a separatist takeover of the Donbas region of Ukraine in 2014, few would have predicted five years later a former television star with no traditional political experience would be elected on a promise to end the conflict.

IMF cancels Ukraine EFF deal, downgrades it to an SBA due to "unprecedented economic uncertainty"

Ben Aris in Berlin May 8, 2020

The International Monetary Fund (IMF) cancelled its agreement with Ukraine for the extended $5.5bn Extended Fund Facility (EFF) and says negotiations must restart for a downgraded Standby agreement (SBA) due to “political instability.”

SAPO opens criminal case against ex-Prosecutor General Riaboshapka

bne IntelliNews May 7, 2020

Ukraine’s Specialised Anti-Corruption Prosecutor’s Office (SAPO) has opened a criminal investigation against former Prosecutor General Ruslan Riaboshapka, who has been dubbed “Ukraine’s only ever honest Prosecutor General” on May 6.

Ukraine’s economy to contract by 11% in 2Q20 but recover in 2021, says NBU

Ben Aris in Berlin May 5, 2020

Ukraine’s economy will contract sharply in the second quarter of this year, says the National Bank of Ukraine (NBU), before gradually recovering, but average growth will end 2020 with a 5% contraction.

Uber Eats exits all but core CEE markets

bne IntellNews May 5, 2020

The express food delivery service will only stay in markets where it is already number one or two in terms of market share, or can see a clear path to achieving this status.

Capital outflows from EMs reverse in April to modest gains

bne IntelliNews May 5, 2020

The torrent of capital fleeing Emerging Markets (EMs) securities has stopped and these markets saw a modest inflow in April, reported the Institute of International Finance (IIF) on May 4.

Ukraine's unemployment doubles in March, could reach 15% this year

bne IntelliNews May 3, 2020

Due to the quarantine, the number of unemployed Ukrainians has roughly doubled in March, to 2.5-2.8mn people, calculates the Ukrainian Chamber of Commerce and Industry.