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☆ Heading platoons, repairing machines and doing twice as much: How the war has changed Ukrainian women
▼ + stars: | 2024-03-09 | by ( Svitlana Vlasova | ) edition.cnn.com time to read: +6 min

Before the war, having a young woman in charge of an all-male Ukrainian military unit might have given the troops pause. She works in a repair department of the Ukrainian Railways in the Poltava region. With women making up 40% of Ukrainian Railways’ employees, she is likely not the only one. Halyna Shevchenko, left, is among the Ukrainian women stepping up during the war to do what have traditionally been seen as "men's jobs." The company has also started training women to be boiler operators – a job women didn’t tend to do before the war.

Persons: Oksana Rubanyak’s, Rubanyak, It’s, ”, “, Halyna Shevchenko, Shevchenko, Natalia Teryakhina, didn’t Organizations: CNN —, CNN, Armed Forces of, ”, National Bank of Ukraine, Ukrainian Railways, Department of Information, Public Strategic Communications Locations: Ukrainian, Ukraine, Russia, Armed Forces of Ukraine, Bakhmut, –, Poltava

But officials have made clear recently that other forms of US aid are potentially in jeopardy if Ukraine does not do more to address corruption. The US has provided Ukraine with over $23 billion in direct budget support since the war began, according to the Congressional Research Service. In a statement to CNN, the Ukrainian embassy in Washington said that Ukraine has moved “ambitiously” to pass reforms, including on its IMF program. That money is also the “most closely scrutinized” form of aid to Ukraine, a senior Democratic Senate aide told CNN. The US intends to provide up to $3.3 billion in direct economic aid to Ukraine if Congress authorizes its $24 billion supplemental request for Ukraine.

Persons: Biden, Jake Sullivan, Antony Blinken, Volodymyr Zelensky, Matthew Miller, Miller, ”, Denys Shmyhal, Blinken, “, It’s, Megan Reed, Sen, Lindsey Graham, Zelensky Organizations: CNN, Ukraine, The State Department, Congressional Research Service, United States Agency for International Development, USAID, World Bank, Ukrainian Ministry of Finance, International Monetary Fund, IMF, National Bank of, General Prosecutors, National Security, Ukrainian, White, Ukrainska Pravda, Government of, EU, State Department, NATO, Ukrainian Ministry of Defense, Democratic, Republicans, Pentagon, The Defense, Ukrainian MoD Locations: Ukraine, Ukrainian, Washington, National Bank of Ukraine, USA, Russia, Kyiv, Europe, Government of Ukraine, United States, EU

☆ How Russia's war has reshaped Ukraine's economy
▼ + stars: | 2023-07-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Ukraine's economy faces difficulties ranging from inflation to trade struggles due to war with Russia. Central bank data cited by The Brookings Institution show how Ukraine's trade deficit has expanded since the war started. Meanwhile, war-time government spending has far outpaced revenue, which has hamstrung Ukraine's ability to fund its economy. Ukraine inflation is easing amid war. “Consumer Price Indices,” National Bank of Ukraine, Brookings.

Persons: Vladimir Putin, It's, David Wessel, " Wessel, Wessel, Yuriy Heletiy, Sergiy Nikolaychuk, Putin Organizations: Service, Brookings Institution, National Bank of, Brookings, National Bank of Ukraine, The, Brookings . U.S, Ukraine Brookings, Kiel Institute, ” National Bank of Ukraine, Bloomberg, Ukrainian Locations: Russia, Central, Ukraine, Wall, Silicon, Brookings, National Bank of Ukraine, Odesa, Europe, United Kingdom, Ukrainian

☆ Ukraine to nationalise Sense Bank from its Russian owners
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

KYIV, July 20 (Reuters) - Ukraine's central bank said it will nationalise Russian-owned Sense Bank, one of the country's top commercial banks, and put it under temporary administration on Friday. The National Bank of Ukraine (NBU) said in a statement on Thursday it decided to "withdraw from the market the systemically important" bank and submitted a proposal to the government on the state's participation in the process. Sense Bank, with 3 million depositors, posted losses of 7 billion hryvnias ($189.75 million) in 2022, central bank said. Mikhail Fridman has a 32.86% stake in ABH Holdings S.A., the majority owner of Sense Bank, while Petr Aven holds 12.4%, the bank said on its website. ($1 = 36.8910 hryvnias)Reporting by Olena Harmash, Writing by Anna Pruchnicka, Editing by Timothy Heritage and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Andriy Pyshnyi, Mikhail Fridman, Petr Aven, Olena Harmash, Anna Pruchnicka, Timothy Heritage, Richard Chang Organizations: Bank, National Bank of Ukraine, Sense, ABH Holdings S.A, Sense Bank, Thomson Locations: Ukraine

☆ Ukraine banks’ robust health masks big challenges
▼ + stars: | 2023-05-11 | by ( Pierre Briancon | ) www.reuters.com time to read: +8 min

Across the banking sector, deposits are as abundant as they’ve ever been, and the country’s lenders have found ways to remain profitable. The National Bank of Ukraine, the country’s central bank, deserves plaudits for both its preparations before the war and after it began. NPLs crept up to 38% of total sector loans as of January 1 this year, according to the central bank. It has the equivalent of $4.8 billion in non-performing loans, a staggering 67.5% of its loan portfolio, according to central bank numbers. The fact that Ukraine’s banks not only still exist but are thriving is an achievement in itself.

☆ A Ukrainian donation drive built an 'Army of Drones' and picked up an unusual system called a 'Shahed Hunter' for Kyiv's forces
▼ + stars: | 2023-05-10 | by ( Jake Epstein | ) www.businessinsider.com time to read: +9 min

It has used the funds to purchase thousands of UAVs, and systems to hunt Russian drones. The Shahed Hunter system is a network of radars and signal jammers that can detect Russian drones from around 25 miles away, Fedorov said. It's unclear where, exactly, the Shahed Hunter systems have been used or how many times they have been deployed. But Fedorov noted that Ukraine needs more of the systems to defend against continuous waves of Russian drone attacks. On Sunday night alone, Ukraine's air defense systems shot down 35 drones — 30 of which targeted Kyiv, according to the country's defense ministry.

☆ A year into the war, Ukraine and the West prepare for the biggest reconstruction since World War II
▼ + stars: | 2023-02-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

People help to clean up debris at a bus station damaged after a shelling, amid Russia's attack on Ukraine, in Kherson, Ukraine February 21, 2023. Lisi Niesner | ReutersOne year since the start of Russia's full-scale invasion, Ukraine's economy and infrastructure are in tatters, with the government and its allies planning the largest rebuilding effort since World War II. The International Monetary Fund estimates that the Ukrainian economy contracted by 30%, a less severe decline than previously projected. IMF Managing Director Kristalina Georgieva visited Ukraine this week, meeting with President Volodymyr Zelenskyy and NBU Governor Andriy Pyshnyy, among others. It is difficult to predict the size of this debt reduction as it depends on the state of the Ukrainian economy at the time the restructuring is agreed," Nasser said.

☆ Ukraine unveils banknote for anniversary of Russian invasion
▼ + stars: | 2023-02-23 | by ( Valentin Ogirenko And Olena Harmash | ) www.reuters.com time to read: +2 min

[1/6] Banknotes dedicated to the first anniversary of Russia's invasion on Ukraine are seen during a presentation at the Ukrainian National Bank in Kyiv, Ukraine February 23, 2023. REUTERS/Valentyn OgirenkoKYIV, Feb 23 (Reuters) - Ukraine's central bank unveiled a commemorative banknote on Thursday to mark the first anniversary of Russia's invasion, with one side depicting three soldiers raising the national flag. The other side of the 20-hryvnia ($0.54) note features an image of two hands tied with tape, an apparent allusion to alleged war crimes Kyiv has accused Russian forces of committing in Ukraine. The central bank has worked hard since the full-scale invasion on Feb. 24 last year to keep the economy afloat and maintain stability. Ukraine has also imposed sanctions on Russian financial institutions.

☆ Ukraine imposes 50-year sanctions on Russian financial sector
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

KYIV, Feb 23 (Reuters) - Ukraine's parliament imposed sweeping 50-year sanctions on Thursday on Russian financial institutions including the central bank, all commercial banks, investment funds, insurers and other enterprises. "It is a complete block on financial institutions of the Russian Federation accessing markets and assets in Ukraine. Economy Minister Yulia Svyrydenko said the sectoral sanctions would affect hundreds of banks and tens of thousands of financial institutions registered in Russia. The measures include a ban on transactions with assets owned by the Russian Federation's financial institutions, a ban on establishing business relations and a ban on transactions and investments in Russian financial institutions, Svyrydenko said. Ukraine is also urging its Western partners to impose more sanctions on Moscow, including taking steps that target Russia's nuclear sector.

☆ IMF approves program for Ukraine to help promote donor financing
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 19 (Reuters) - The International Monetary Fund said on Monday it has approved a four-month program for Ukraine aimed at maintaining economic stability following Russia's invasion of the country, and helping promote donor financing. Gavin Gray, the IMF's mission chief for Ukraine, said the IMF estimates the country will need between $40 billion and $57 billion in external financing in 2023. The IMF will not make any loans itself but hopes the PMB will help boost confidence among donor nations to support Ukraine. As part of the program, Ukraine has committed to taking measures to strengthen its tax revenues, revive the domestic debt market, and make financial sector reforms. "Strong implementation of the PMB should help pave the way toward a possible full-fledged IMF-supported program."

☆ Ukraine holds key rate at 25%, air strikes to hit GDP - c.bank
▼ + stars: | 2022-12-08 | by ( Olena Harmash | ) www.reuters.com time to read: +2 min

[1/2] A general view shows the headquarters of the National Bank of Ukraine in Kyiv, Ukraine April 18, 2019. The central bank increased the main rate to 25% in June to tame double-digit inflation as Russia's invasion battered the economy. The central bank said that consumer inflation had accelerated to 26.6% in October year-on-year. The International Monetary Fund expects Ukraine's GDP to fall by 35% this year and that the economy will stabilize next year. The central bank also said it was increasing obligatory reserve requirements for commercial banks by five percentage points.

☆ Ukraine's foreign reserves hit $27.95 bln, topping pre-invasion level
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: 1 min

KYIV, Dec 6 (Reuters) - The National Bank of Ukraine announced on Tuesday that the country had $27.95 billion in foreign reserves as of Dec. 1. That figure topped the $27.42 billion in state coffers on the morning of Russia's Feb. 24 invasion of Ukraine, the bank said in a statement. It also said its reserves had grown 10.7% in November. Reporting by Dan Peleschuk, Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

☆ The Cost of Russia’s War to Ukraine’s Economy - The New York Times
▼ + stars: | 2022-11-17 | by ( Rajan Menon | ) www.nytimes.com time to read: +2 min

Despite the Ukrainian Army’s battlefield advances and Russia’s retreats, most recently from parts of Kherson Province, Ukraine’s economy has been left in tatters. For the Kyiv government, the cost of prosecuting the war while also meeting the material needs of its citizens will mount even if the Ukrainian Army keeps gaining ground. Worse, winter looms and Russia, frustrated by the serial military failures it has experienced since September, seems bent on crippling Ukraine’s economy by taking the wrecking ball to its critical infrastructure. Missile barrages left about 4.5 million Ukrainians without electricity. The United Nation’s Office for the Coordination of Humanitarian Affairs (OCHA) reported this month that six million Ukrainians are now “internally displaced” (another seven million have sought refuge abroad).

☆ Ukraine looks to technology to help rebuild its economy amid Russia’s onslaught
▼ + stars: | 2022-11-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

An attendee passes by the Ukraine stand at the Web Summit 2022 tech conference in Lisbon, Portugal. Ukraine had a notable presence at Web Summit, where it sought support from the global tech community to bolster its fight against Russia. In 2021, Ukraine had a small booth at Web Summit, Krasovsky said. Ukraine Vice Prime Minister Mykhailo Fedorov (right) and First Lady Olena Zelenska (center) attend the Ukraine booth at Web Summit 2022. SID Venture Partners, a venture fund set up by Sigma and fellow Ukrainian tech firms Ideasoft and Datrics, has so far invested in 10 startups with Ukrainian founders, Krasovsky said.

☆ IMF concludes mission on Ukraine, urges authorities to avoid eroding tax revenues
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Oct 21 (Reuters) - An International Monetary Fund team held productive discussions with Ukrainian authorities in Vienna this week and will continue work in coming weeks on Ukraine's request for enhanced program monitoring, IMF mission chief Gavin Gray said on Friday. Gray said IMF staff met with Ukrainian authorities, and discussed its findings with Finance Minister Serhiy Marchenko and Governor of the National Bank of Ukraine Andriy Pyshnyi. He said Russia's invasion had caused tremendous human suffering and had a severe economic impact, with the fiscal deficit rising to unprecedented levels. But IMF officials were encouraging Ukraine to refrain from measures that erode tax revenues. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ Why the Ukrainian tech company N-iX refused to quit working as Russia unleashed intense strikes that knocked out power across Lviv: 'The sector is banding together'
▼ + stars: | 2022-10-13 | by ( Sage Lazzaro | ) www.businessinsider.com time to read: +5 min

N-iX, an IT firm with a big presence in Lviv, described how it'd managed amid the latest attacks. But like many Ukrainian companies, N-iX was prepared with a contingency plan that allowed it to continue servicing clients in the attack's aftermath. "It started in the morning," Deshchynskyy told Insider. Ukrainian tech workers and companies have rallied to help the war effort, including by joining the "IT army" and providing tech services for the military. And just two weeks ago, N-iX was the main partner at the annual IT Arena tech conference, which was held in Lviv.

☆ Ukraine's central bank operating despite Russian strikes
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: 1 min

KYIV, Oct 10 (Reuters) - Ukraine's banking system was operating on Monday despite Russian missile strikes across the country, the central bank said. "The National Bank is in constant contact with banks and taking all necessary measures for their normal operation," the National Bank of Ukraine said on its website. It said the bank's electronic payment system was operating as usual and retailers were accepting non-cash payments without interruption. Register now for FREE unlimited access to Reuters.com RegisterReporting by Pavel Polityuk, Editing by Timothy HeritageOur Standards: The Thomson Reuters Trust Principles.

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