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IMF’s Lagarde urges deeper structural reforms in Ukraine


International Monetary Fund Managing Director Christine Lagarde on Saturday urged Ukraine to forge ahead with deeper structural reforms needed to achieve stronger economic growth. Lagarde made the comments in a statement issued after meeting with former Ukrainian Prime Minister Yulia Tymoshenko in Munich, Germany. The IMF approved a new $3.9 billion (£3 billion) stand-by aid agreement for Ukraine in December ... Read More »

Ukrainian agricultural exports to EU markets remain on steep growth trajectory

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Ukrainian agricultural exports to the European Union totaled USD 6.3 billion in 2018, representing a year-on-year increase of slightly less than 10%. This USD 6.3 billion total maintains the recent growth trend that saw the value of agricultural exports to the EU rise from USD 4 billion in 2016 to USD 5.8 billion in 2017, underlining the free trade benefits ... Read More »

Ukraine exports 28.5 million tonnes of grain since July 1

A farmer supervises the loading of grain into a truck which will then be transported to a grain elevator in Kharkiv Oblast’s Krasnogradsky district on July 25, 2018.

Ukraine exported 28.52 million tonnes of grain and leguminous crops from July 1, when the 2018/2019 marketing year began (MY, July-June) to February 6, 2019, which was 16 percent up year-over-year. Some 11.6 million tonnes of wheat, 3.27 million tonnes of barley, and 13 million tonnes of maize were shipped abroad over the period under review, the Ministry of Agrarian ... Read More »

Ukraine central bank returns Hr 2.6 billion of refinancing loans to insolvent banks


The National Bank of Ukraine (NBU) in 2018 returned Hr 2.6 billion of debt on refinancing loans to insolvent banks, which is Hr 500 million more than in 2017. According to the website of the NBU, it received Hr 1.238 billion from the sale of property rights, Hr 681.6 million from the sale of real estate. Other sources of repayment ... Read More »

Ukraine and Israel sign Massive free trade agreement


Visiting Ukrainian President Petro Poroshenko hailed as “historic” the signing Monday of a free trade agreement with Israel that has been negotiated for the last 15 years. “Today is a historic day in Jerusalem,” Poroshenko wrote on his Twitter account. “For many years hundreds of bureaucrats have attempted to prepare this agreement that will make the lives of our countries ... Read More »

Russian, Ukrainian defendants among those charged with hacking SEC system in trading scheme


Federal authorities filed charges accusing eight people, including individuals from Russia and Ukraine, of hacking into a government database holding corporate secrets in a scheme that led to at least $4.1 million in illegal trading profits. In a civil complaint, the Securities and Exchange Commission alleged that the defendants launched a sophisticated cyberattack against the agency starting in 2016. Once ... Read More »

Ukraine and UK to start talks about new trade agreement

A general view of of the Palace of Westminster, with the Great Westminster Clock, more commonly known as "Big Ben" seen on April 5, 2015 in London. In one month, Britain votes in a general election likely to put the nail in the coffin of two party politics and herald an uncertain future of coalitions, alliances and horse-trading. Neither of the two parties which have dominated parliament since the 1920s, the Conservatives and Labour, are expected to win the 326 House of Commons seats out of 650 needed to govern alone. AFP PHOTO / NIKLAS HALLE'N / AFP PHOTO / NIKLAS HALLE'N

Ukraine’s Economy Ministry is expecting to start official negotiations with the United Kingdom concerning a new cooperation and trade agreement between the two countries this year. The new free trade agreement will be similar to Ukraine’s existing agreement with the European Union, according to the ministry. In a comment to the Kyiv Post, the ministry’s spokesperson Roksolana Pidlasa stated that ... Read More »

Two Ukrainians imprisoned in Greece for 180 years for smuggling of migrants


A court in Greece has sentenced Serhiy Shvayuk, a musician of the Ivano-Frankivsk band Perkalaba, and his friend Petro Lytvynchuk to 180 years in prison for smuggling of migrants. The trial took place both were found guilty, the Ukrainian news outlet Slidstvo.Info said. Interpreter of the prosecutor’s office in the city of Piraeus Lidia Kostiv said that the Ukrainians were ... Read More »

Ukrainian MPs pass 2019 state budget and unlock USD 3.9 billion IMF support


The Ukrainian parliament passed the 2019 state budget more than a month before the deadline and without the last minute politicking that has become something of a national tradition. The 2019 budget is reportedly in line with IMF expectations and should now allow Ukraine to secure a resumption of IMF financing of up to USD 3.9 billion that could prove ... Read More »

Ukraine reduces oil imports by 28.4 percent in ten months

A worker walks through   pipe infrastructure at Yablunivka Gas production plant of Joint Stock Company UGV ( Naftogas group) on Oct, 26, 2018 in Poltava oblast.

Ukraine in January-October 2018 reduced imports of oil and petroleum products (foreign economic activity code 2709) by 28.4 percent (by 243,287 tonnes) compared to the same period in 2017, to 613,046 tonnes. According to the State Fiscal Service, oil was imported for $346.575 million, which is 4.9 percent less than in January-October 2017 ($364.373 million). In particular, Azerbaijan supplied oil ... Read More »

US Energy Secretary Perry to visit Ukraine and Poland

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WASHINGTON: US Energy Secretary Rick Perry will visit Ukraine, Poland and other eastern European countries next week as the Trump administration seeks to offer them alternatives to buying coal and gas from Russia. Perry will also visit Hungary and the Czech Republic on the trip. He will meet with government officials on topics from nuclear energy to cyber security and ... Read More »

Russia announces sanctions against senior Ukraine figures


Russia has announced sanctions against senior Ukrainian officials as well as business and cultural figures, including the former prime minister Yulia Tymoshenko, the frontrunner for Ukraine’s 2019 presidential elections. The Russian measures were presented as counter-sanctions after Ukraine targeted Russian officials and businesses earlier this year. The conflict goes back to Russia’s 2014 annexation of Crimea and its backing for ... Read More »

Ukraine produces 758,000 tonnes of sugar in October

A woman puts sugar produced in France to her coffee in Havana, on October 9, 2018. - Cuba, which was for long time a world leader in the production of sugar, now imports the product from France after serious problems in its harvest. (Photo by YAMIL LAGE / AFP) / TO GO WITH AFP STORY BY KATELL ABIVEN

Sugar production in Ukraine as of Oct. amounted to 757,900 tonnes. According to a report of the Ukrtsukor National Association of Sugar Producers, as of this date 39 sugar refineries were operating in the country, which have processed 5.89 million tonnes of sugar beets. As reported, Ukraine on August 31 started a new sugar making season. In 2018, the area ... Read More »

Russia may ban imports of some Ukrainian goods, says PM


KALININGRAD: Moscow may ban the supply of a number of Ukrainian goods to Russia as part of its countersanctions against Kiev, Prime Minister Dmitry Medvedev told reporters. “It concerns banning certain categories of goods that are produced in Ukraine for their delivery to Russia,” he said when answering a question about retaliatory measures Moscow is going to take in response ... Read More »

UNIAN: Agricultural output in Ukraine increased by 5 percent since year-start


The growth of agricultural output in Ukraine in January-September of this year was at 4.9% compared with the same period in 2017, the State Statistics Service of Ukraine reported. In particular, agricultural enterprises increased their output by 7.8%, while private farms – by 1.9%. Crop production in the nine months of this year increased by 6.9% compared with January-September last ... Read More »

Trump Nominee Draws Scrutiny for Ties to Ukrainian Energy Interests


WASHINGTON — As tanks, artillery and combat troops streamed from Russia into Ukraine in 2014, the United States government dispatched a multiagency team of technical experts to Kiev to help the fragile government there shore up its energy supply for the coming winter. The head of that team, William N. Bryan, was a career civil servant with an expertise in ... Read More »

Ukraine wood exports to EU countries has grown

During a moratorium on deforestation in Ukraine, its exports to the EU countries increased by 75%, exceeding the mark of € 1 billion in 2017. About this, referring to the British non-governmental organization Earthsight, which is studying the problem of illegal deforestation around the world, writes “Dzerkalo Tyzhnya”. Recall that the abolition of the rules of trade in raw materials ... Read More »

Smuggled amber of $1 million was arrested in Ukraine’s Zakarpattia region


Officers of the Security Service of Ukraine (SBU) jointly with the Prosecutor’s office blocked the export of smuggled amber with the weight of more than one ton to the European countries in Zakarpattia region. The press office of the SBU reports. ‘Law enforcement officers found a local resident with illegally extracted sunstone in VAN at “Luzhnyky” customs post. The stuff ... Read More »

Ukraine, Turkey create platform for dialogue between government and business


Ukraine and Turkey have created a unique platform for dialogue with the involvement of representatives of government and business of both countries to improve the state of economic relations, increase trade turnover and overcome problematic issues in business. Ukraine’s First Deputy Prime Minister – Minister of Economic Development and Trade Stepan Kubiv said this during his visit to Turkey and ... Read More »

Corporate bonds: could this underused tool help Ukrainian businesses to expand?


Corporate bonds are an investment instrument with considerable potential to become one of the key drivers powering Ukraine’s continued economic recovery. They can provide businesses operating in Ukraine with the resources to fuel development at a time when bank lending remains almost completely frozen. For investors, corporate bonds create the opportunity to preserve available funds and even earn despite the ... Read More »