Skip to main content
Foreign Policy Magazine Foreign Policy Magazine
  • Sign In
  • Give a Gift Give a Gift
  • Subscribe Subscribe Upgrade Upgrade
  • Latest
  • News
  • Analysis
  • Podcasts
  • The Magazine
  • Channels
    • Economics
    • Security
    • Shadow Government
    • Her Power
    ❌  Close
  • Newsletters
  • Events
  • FP Analytics

Your FP Insider Access:

  • Power Maps
  • Special Reports
  • Graphics Database
Search Icon

latest

Why India Just Limited Wheat Exports

The decision recalls New Delhi’s COVID-19 vaccine export ban last year, with some key differences.

South Asia Brief |
Michael Kugelman

Australia’s Got a Solomon Islands Headache (Again)

China’s expansion into the South Pacific caught Australia and the United States off guard.

Report |
Mary Yang, Jack Detsch

‘We Begged Them to Spare Our Shops’

In New Delhi, the BJP-controlled local government razes a market run by Muslim women.

Dispatch |
Haziq Qadri, Qadri Inzamam

The Turkey-Sized Roadblock to NATO Expansion

Bumps in the road stall Finland and Sweden from joining the alliance.

Situation Report |
Robbie Gramer, Jack Detsch
See All Stories
  • FP Events
  • FP Studios
  • FP Analytics
  • FP PeaceGames
  • Subscription Services
  • Group Subscriptions
  • Reprint Permissions
  • Writer’s Guidelines
  • FP Guides – Graduate Education
  • FP For Education
  • FP Archive
  • Buy Back Issues
  • Work At FP
  • Meet the Staff
  • Advertising/Partnerships
  • Sign In
  • Give a Gift Give a Gift
  • Subscribe Subscribe Upgrade Upgrade
Search Icon

: Stability Becomes New Normal Stability Becomes New Normal...

SHARE: Share on Facebook Share on Twitter Share on LinkedIn Share on WhatsApp Print this page Share via Email

Sponsored Content

Stability Becomes New Normal

As a result of far-reaching reforms initiated by the National Bank of Ukraine which saw the removal of over half of the country’s banks from the market, Ukraine’s financial sector is in much-improved shape

Aerial view of Khreshchatyk, European Square and Ukrainian House in the city center of Kiev, the capital of Ukraine.
Aerial view of Khreshchatyk, European Square and Ukrainian House in the city center of Kiev, the capital of Ukraine.
Aerial view of Khreshchatyk, European Square and Ukrainian House in the city center of Kiev, the capital of Ukraine.

The 2016 nationalization of Privatbank, the country’s largest commercial bank, after a stress test revealed capital shortages, was lauded by IMF head Christine Lagarde as an important step in its efforts to safeguard financial stability. Now, with the clean-up almost complete, confidence in the system is returning.

“The steps we’ve taken have contributed to increased profitability and public trust in the banking system” Yakiv Smolii, Governor, National Bank of Ukraine

“The steps we’ve taken have contributed to increased profitability and public trust in the banking system,” said Yakiv Smolii, governor of the National Bank of Ukraine. “The banks that are currently operating have shown a profit of 8 billion hryvnias ($300 million) for the first quarter of 2018, and credit and deposit portfolios are increasing.”

As a result of the PrivatBank nationalization, state-owned banks now make up over half of the sector, which the government seeks to address through privatization plans. “Our priority is to accelerate economic growth, which is impossible without an effective banking sector. By 2022, PrivatBank will be ready for the exit of the state from the control of its stock,” said acting finance minister Oksana Markarova.

Oksana Markarova, Acting Minister Of Finance

“Accelerating economic growth is impossible without an effective banking sector” –Oksana Markarova, Acting Minister of Finance

With the structural overhaul well underway, the focus now is on maintaining stability, and the central bank is targeting low and stable inflation, banking system transparency and better credit availability in order to drive financial strength. “When our reforms are implemented, the banks will be able to withstand any crisis at each moment of their existence,” said Smolii. “Ukraine’s capital adequacy ratio currently exceeds 18 percent, which means that our current banking sector status is more stable than foreseen by the standards applied.”

The New Ukraine

Introduction

  • ‘Our Main Focus Is the Improvement of the Investment Climate in Ukraine’
  • Interview – Petro Poroshenko, President of Ukraine

Reforms

  • Building the New Ukraine
  • Interview – Volodymyr Groysman, Prime Minister of Ukraine

Investment

  • A Country Primed for Big Investment

Finance

  • Stability Becomes New Normal
  • Ukrgasbank: Ukraine’s Leading Eco-Bank

Law

  • Top Legal Team Takes Lead in Ukraine’s Transformation

Energy

  • A Fresh Vision for Ukraine’s Energy Sector

Infrastructure

  • The Road Ahead
  • ONUR Group: Capitalizing on New Opportunities in Ukraine

Agribusiness

  • Ukrlandfarming Unearths Ukraine’s Agricultural Potential
  • The Ukrainian Agribusiness With a Global Appetite
Loading graphics
Foreign Policy Magazine
  • FP Events
  • FP Studios
  • FP Analytics
  • FP PeaceGames
  • Subscription Services
  • Group Subscriptions
  • Reprint Permissions
  • Writer’s Guidelines
  • FP Guides – Graduate Education
  • FP For Education
  • FP Archive
  • Buy Back Issues
  • Work At FP
  • Meet the Staff
  • Advertising/Partnerships
  • Contact Us
  • Privacy Policy
Powered by WordPress VIP
© 2022, The Slate Group