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ICU Research
is a small but highly professional team of experts who have deep insight in diverse fields of finance — from global markets to Ukrainian macroeconomics and from the local banking sector to sovereign debt market.
Bond Market Reviews
Weekly Reviews
Macroeconomics
Bond Market Reviews
3.5-year note received unusual interest
Yesterday, for the second time, the MoF borrowed UAH7bn. In contrast to previous auctions, most of t...
2 July 2025
Insignificant increase in borrowings
The MoF borrowed UAH7bn yesterday from the usual set of bonds offered.Fifteen-month military bills r...
25 June 2025
Situational increase in demand
Yesterday, the Ministry of Finance raised more than UAH9bn for the state budget, which was approxima...
11 June 2025
Weekly Reviews
Rollover declines in June
Refinancing of local debt redemptions remains sluggish, with YTD local debt rollover ratios slightly...
30 June 2025
Key rate kept unchanged
The NBU has left its key policy rate unchanged at 15.5%, while highlighting upside risks to inflatio...
9 June 2025
Ukraine in default on VRIs
Ukraine missed the scheduled payment on VRIs and is no longer under time pressure to negotiate the r...
2 June 2025
Macroeconomics
Larger Financial Aid Buys More Time for Economy to Adjust
Ukraine’s economy has been in a sluggish recovery mode since 3Q24, and chances for a significant nea...
17 April 2025
2025: Year of Challenges and Great Hopes
The year 2025 will be one of great expectations along with hope for a sustained ceasefire agreement...
13 December 2024
Macro risks edge up on large fiscal needs
Macroeconomic risks have increased in the past months, but even so, they remain fully manageable. Th...
20 August 2024
Video
Media publications
Company News
3 April 2025
Economy
13 December 2024
Economy
27 February 2023
Investments
21 February 2023
Investments
20 February 2023
Venture Capital
15 December 2022
Investments
18 November 2022
Economy
6 September 2022
Bonds
15 June 2022
Investments
13 December 2021