{"id":486746,"date":"2023-06-22T14:03:24","date_gmt":"2023-06-22T11:03:24","guid":{"rendered":"https:\/\/eba.com.ua\/?p=486746"},"modified":"2023-06-22T15:53:13","modified_gmt":"2023-06-22T12:53:13","slug":"asotsiatsiya-vitaye-rishennya-nbu-shhodo-skasuvannya-chastyny-valyutnyh-obmezhen","status":"publish","type":"post","link":"https:\/\/eba.com.ua\/en\/asotsiatsiya-vitaye-rishennya-nbu-shhodo-skasuvannya-chastyny-valyutnyh-obmezhen\/","title":{"rendered":"[:ua]\u0410\u0441\u043e\u0446\u0456\u0430\u0446\u0456\u044f \u0432\u0456\u0442\u0430\u0454 \u0440\u0456\u0448\u0435\u043d\u043d\u044f \u041d\u0411\u0423 \u0449\u043e\u0434\u043e \u0441\u043a\u0430\u0441\u0443\u0432\u0430\u043d\u043d\u044f \u0447\u0430\u0441\u0442\u0438\u043d\u0438 \u0432\u0430\u043b\u044e\u0442\u043d\u0438\u0445 \u043e\u0431\u043c\u0435\u0436\u0435\u043d\u044c[:en]The EBA welcomes the NBU&#8217;s decision to cancel part of the currency restrictions[:]"},"content":{"rendered":"<p><\/p>\n<p>Starting June 21, 2023, the National Bank of Ukraine has implemented further ease of currency restrictions to promote business development, stimulate economic activity, and attract resources for Ukraine&#8217;s economic recovery. Particularly, through changes in <a href=\"https:\/\/zakon.rada.gov.ua\/laws\/show\/v0018500-22#Text\">Resolution No. 18 dated February 24, 2022<\/a>, enacted by the NBU&#8217;s <a href=\"https:\/\/bank.gov.ua\/admin_uploads\/law\/20062023_77.pdf?v=4\">Resolution No. 77 on June 20, 2023<\/a>, resident companies can now use foreign currency funds abroad to service and repay new loans from non-residents.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The ease applies to credit agreements where funds will be received from abroad after June 20, 2023, into the borrowers&#8217; accounts in Ukrainian banks, provided that a set of conditions is simultaneously met:<\/p>\n<ul>\n<li>interest payments are made while observing a maximum interest rate of 12% per annum.<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>the borrower must fulfill credit obligations for a maximum term of three years using their funds in foreign currency.<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>for loan terms exceeding three years, repayment during the initial three years is solely from the borrower&#8217;s foreign currency funds. During this period, the borrower may purchase foreign currency for interest payments, fees, charges, and penalties, starting from the fourth year &#8211; for loan or credit repayment.<\/li>\n<li>early repayment of funds for loans and credits is not permitted.<\/li>\n<\/ul>\n<p>The recent ease is a positive step towards attracting future investments in Ukraine, which the government actively seeks for the country&#8217;s recovery, including events like the Ukraine Recovery Conference in London. However, it is crucial for the real sector businesses to also have the ability to fulfill their existing obligations to non-residents for loans obtained before the imposition of martial law due to the full-scale invasion. This factor unquestionably affects the stability, operations, and companies&#8217; international credit rating during martial law. Cumulatively, this will affect the cost of capital in attracting new investments to start Ukraine&#8217;s economic recovery.<\/p>\n<p>Companies that have attracted foreign capital will continue investing in the country despite martial law, setting an example for further Ukraine&#8217;s recovery financing. Therefore, the EBA believes noncompliance with current debt obligations will harm business operations and future Ukrainian recovery.<\/p>\n<p>We hope that the situation in the currency market will remain stable and allow the National Bank to continue the gradual lifting of temporary currency restrictions imposed by Resolution No. 18 of the NBU on February 24, 2022. We also hope the bank will consider all the suggestions from the business community soon.<\/p>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>Starting June 21, 2023, the National Bank of Ukraine has implemented further ease of currency restrictions to promote business development, stimulate economic activity, and attract resources for Ukraine&#8217;s economic recovery. Particularly, through changes in Resolution No. 18 dated February 24, 2022, enacted by the NBU&#8217;s Resolution No. 77 on June 20, 2023, resident companies can [&hellip;]<\/p>\n","protected":false},"author":4489,"featured_media":486751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[4,5],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The EBA welcomes the NBU&#039;s decision to cancel part of the currency restrictions - European Business Association<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eba.com.ua\/asotsiatsiya-vitaye-rishennya-nbu-shhodo-skasuvannya-chastyny-valyutnyh-obmezhen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The EBA welcomes the NBU&#039;s decision to cancel part of the currency restrictions - European Business Association\" \/>\n<meta property=\"og:description\" content=\"Starting June 21, 2023, the National Bank of Ukraine has implemented further ease of currency restrictions to promote business development, stimulate economic activity, and attract resources for Ukraine&#8217;s economic recovery. Particularly, through changes in Resolution No. 18 dated February 24, 2022, enacted by the NBU&#8217;s Resolution No. 77 on June 20, 2023, resident companies can [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/eba.com.ua\/asotsiatsiya-vitaye-rishennya-nbu-shhodo-skasuvannya-chastyny-valyutnyh-obmezhen\/\" \/>\n<meta property=\"og:site_name\" content=\"European Business Association\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-22T11:03:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-22T12:53:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/eba.com.ua\/wp-content\/uploads\/2023\/06\/Currency_22062023-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Katia Chaikovska\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Katia Chaikovska\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/eba.com.ua\/asotsiatsiya-vitaye-rishennya-nbu-shhodo-skasuvannya-chastyny-valyutnyh-obmezhen\/\",\"url\":\"https:\/\/eba.com.ua\/asotsiatsiya-vitaye-rishennya-nbu-shhodo-skasuvannya-chastyny-valyutnyh-obmezhen\/\",\"name\":\"[:ua]\u0410\u0441\u043e\u0446\u0456\u0430\u0446\u0456\u044f \u0432\u0456\u0442\u0430\u0454 \u0440\u0456\u0448\u0435\u043d\u043d\u044f \u041d\u0411\u0423 \u0449\u043e\u0434\u043e \u0441\u043a\u0430\u0441\u0443\u0432\u0430\u043d\u043d\u044f \u0447\u0430\u0441\u0442\u0438\u043d\u0438 \u0432\u0430\u043b\u044e\u0442\u043d\u0438\u0445 \u043e\u0431\u043c\u0435\u0436\u0435\u043d\u044c[:en]The EBA welcomes the NBU's decision to cancel part of the currency restrictions[:] - 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