COMMENT: Smolii’s Resignation and the soft coup underway in Ukraine

The resignation of Yakiv Smolii as governor of the NBU could be taken as the end of serious reforms in Ukraine and a "soft coup" that puts the old guard back in charge of the country

COMMENT: Five reasons why Zelenskiy is failing in Ukraine: Zelenskiy faces a political future that is no laughing matter

Volodymyr Zelenskiy's presidency seems to have gone off the tracks but no one is quite sure what is going on. Is he a puppet or just out of his depth? Melinda Haring of the Eurasia Center at the Atlantic Council offers five theories.

Profits of Ukraine’s banks still ahead of last year, but first signs of crisis impact visible

Net foreign direct investment leaving Ukraine in 1Q20

There was a net outflow of foreign direct investment (FDI) from Ukraine in the first quarter of this year of $1,451mn, reversing the trend of inflows of the last several years, according to data from Ukrstat.

NBU lionises Smolii, clarifies cancellation of Eurobond decision

The National Bank of Ukraine was in damage control mode on July 3 as it lionised its departing governor, Yakiv Smolii, and released more details of why a planned issue of a 12-year $1.75bn Eurobond was immediately cancelled on the news.

Governor Smolii’s departure from the NBU creates the risk of devaluation of the hyrvnia or default on its debt this year

Ukraine’s Rada rapidly accepted the resignation of Governor of the National Bank of Ukraine (NBU) Yakiv Smolii on July 3, completing the process of his departure from the central bank. But his departure creates danger of devaluation or default

Suma Chakrabati leaves the EBRD a greener bank

Green financing reached close to 50% of the EBRD’s volume of investment in 2019, but as he leaves the bank Chakrabati warns of the need to put the green economy at the heart of the post-COVID recovery.

Ukraine cancels dollar bond sale after NBU governor resigns

Ukraine cancelled a planned offering of dollar-denominated Eurobonds after Yakiv Smolii stepped down as NBU governor citing a “systematic” campaign against the central bank.

COMMENT: Finding a third Musketeer to run the National Bank of Ukraine

The governor of the National Bank of Ukraine (NBU) Yakiv Smolii abruptly quit on July 1, sending a shock through the investment community. Now he has gone, who will replace him?

Ukraine’s NBU governor Smolii quits under pressure from oligarchs

Yakiv Smolii, the governor of the National Bank of Ukraine (NBU), has quit his job, citing pressure from a “systematic” campaign against him and the central bank by oligarch Ihor Kolomoisky.

Real wages in Ukraine increased 1.4% y/y in May, after sliding 0.6% y/y in April

Real wages in Ukraine increased 1.4% y/y in May, after sliding 0.6% y/y in April, the State Statistics Service reported on June 30. The average monthly nominal wage rose to UAH10,542 a month ($393) from UAH10,430 in April.

COVID-19 second wave strikes parts of emerging Europe

WHO warns of a “very serious resurgence” that risks pushing healthcare systems “to the brink” in 10 countries from the region after lockdowns were eased.

Saakashvili says Russia "way ahead" of Ukraine in making reforms

In remarkably candid comments, former Georgian president and recently appointed head of Ukraine’s Reform Committee Mikheil Saakashvili said that Russia was “way ahead” of Ukraine in many key reforms.

International financial institutions scale back their support for Zelenskiy’s government over reform backsliding fears

Backsliding on reforms and rising political instability within Zelenskiy's administration have led Ukraine’s international donors to pare back their financial support until the government better demonstrates its commitment to the reform agenda.

Kolomoisky’s Ukrtatnafta oil company wins Defence Ministry fuel supply contract despite offering a price that is a third higher than the others

Ukraine’s oil company Ukrtatnafta, which is controlled by oligarch Ihor Kolomoisky, has won a tender to supply the Ministry of Defence with 3,500 tonnes of aviation fuel despite asking a price that was almost a third higher than the lowest offer

COMMENT: Yanukovych’s “Own Goal;” Zelenskiy’s “Lesson Learned”

In September 2013, at the Annual “YES” Conference in Yalta, former President Yanukovych said: ”We have to move toward European integration,” causing participants to dance on the beach. He didn't do it and sparked the Maidan revolution

Ukraine’s industrial production decline slows to 11.7% y/y in May

Ukraine’s industrial production fell by 11.7% in May y/y, less than April’s record y/y drop of 16.2%, according to the State Statistics Service

Illicit cigarette consumption declines in eastern EU states

KPMG report says fewer contraband cigarettes flowing into the EU, but growth in illegal factories within the bloc.

COMMENT: Global remittances to suffer a blow from COVID-19

Instead of triggering an increase in remittance payments, which is typical during times of crisis, the uncertainty surrounding the COVID-19 pandemic has caused migrant payments to households in developing countries to slow dramatically.

KYIV BLOG: Rada deputies undermining Ukraine’s investment case yet again with planned reforms to the OVDP local bond market

Servant of the People lawmaker Oleksandr Dubinsky submitted a document to the Verkhovna Rada’s Finance Committee on the National Bank of Ukraine and local bond market that will undermine confidence and do more damage to Ukraine's investment case