Investor Presentaiton
Sources
CMU, NBU,
Naftogaz,
EC, IMF
Financial
sector
Energy
sector
Key areas
Challenging reforms start bearing fruit (2/2)
Monetary policy: inflation-targeting framework
▸ Banking sector: sector clean-up, currency
controls liberalization
▸ NBU role: enhancement of the NBU'S
supervisory and regulatory role
Energy sector diversification: intensified
domestic extraction and complete substitution of
Russia in favor of the EU for gas imports since
late 2015
Liberalization of energy markets: transition of
electricity market to European model, increase
in levels for gas and heating tariffs, elimination
of operational deficit of Naftogaz of Ukraine
"The new Stand-By Arrangement will provide an anchor for the
authorities' efforts to address the impact of the crisis, while ensuring
macroeconomic stability and safeguarding achievements to date. The
program will focus on safeguarding medium-term fiscal sustainability,
preserving central bank independence and the flexible exchange rate, and
enhancing financial stability while recovering the costs from bank
resolutions"
Ms. Kristalina Georgieva, Managing Director and Chair of the IMF
June 9, 2020
2019-2020 update
Banking law adopted (May 2020)
⚫ Draft AML Law implementing 5th EU
AML Directive became effective (Apr
2020)
Law on split of supervisory functions
between financial markets regulators
("Split Law") adopted (Sep 2019)
. New liberalized currency
regulation system (Feb, Sep 2019)
Unbundling of Naftogaz gas
transmission system completed
(Jan 2020)
Receipt of compensation by
Naftogaz following its victory over
Gazprom in Stockholm Arbitration
(Dec 2019)
Bringing gas prices for
households closer to market level
(Apr 2019)
Selected results
UAH 60bn
record high profits posted
by the Ukrainian banking
sector in 2019
20+ FX restrictions lifted
105 banks withdrawn from
the market over 2014-2019
US$ 2.9bn received
as compensation from
Gazprom in Stockholm
Arbitration
14.9 bn m3 of gas
volume extracted by SOE
Ukrgazvydobuvannia in
2019
"The Ukrainian authorities have made progress with reforms
over the past year, notably in areas that will help to create the
foundations for future growth and prosperity for Ukrainian citizens.
Many newly adopted laws now await implementation, and the
European Union will continue to be there to accompany this
process"
Mr. Oliver Varhelyi, EC Commissioner for the Neighbourhood and
Enlargement
December 13, 2019
July 2020
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