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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
Low borrowing persists
Yesterday, the Ministry of Finance sold the planned volume of bonds, satisfying only half of the dem...
16 September 2026
MoF holds rates unchanged
For the second month, the Ministry of Finance kept interest rates unchanged and has reacted little t...
9 September 2026
Active start to autumn
Yesterday, the Ministry of Finance borrowed UAH6bn through the placement of two new instruments.The...
2 September 2026
Weekly Reviews
NBU reserves slip below US$50bn again
The gross international reserves of the NBU declined 5.0% in August (-15.1% YTD) to US$48.7bn on low...
14 September 2026
C/A balance keeps improving on USL loan
Ukraine’s current account balance was close to zero in July as a growing trade deficit was offset wi...
7 September 2026
MoF slows debt refinancing in August
Following two summer months with positive net borrowings, the amount of debt the Ministry of Finance...
31 August 2026
Macroeconomics
Macro risks up; more foreign financial aid unlocked
The Ukrainian economy showed unparalleled resilience to massive electricity blackouts at the start o...
5 June 2026
Growth Weak but Macroeconomic Stability Safeguarded
The economy is set to slow further as headwinds remain intense. The energy crisis caused by russia’s...
6 February 2026
Reparation Loan is a Likely Game Changer for Economy
The lingering war and heightened safety risks imply Ukraine will remain critically dependent on fore...
15 October 2025
Video
Media publications
Economy
8 December 2025
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