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Research 

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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

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Increased demand for UAH bonds

Yesterday, the Ministry of Finance borrowed UAH23bn for the state budget, mostly in hryvnia.Interest...

8 October 2025
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Increased demand for FX-denominated bills

A significant amount of yesterday's budget proceeds was from USD-denominated paper, which saw almost...

1 October 2025
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MoF issues new USD-denominated paper

Yesterday, the Ministry of Finance almost doubled borrowings compared with last week, thanks to the...

24 September 2025
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Weekly Reviews

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MoF maintains high borrowings

Yesterday, the Ministry of Finance borrowed almost UAH20bn and sold USD-denominated and new reserve...

15 October 2025
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Мінфін зберігає високий темп залучень

Учора Міністерство фінансів залучило майже 20 млрд грн, розмістивши цього разу як валютні, так і нов...

15 October 2025
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Annual inflation keeps decelerating sharply

Annual CPI slowed to 11.9% in September vs 13.2% in August and after a peak of 15.9% in May. ...

13 October 2025
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Macroeconomics

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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
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A Race to Secure More Budget Funding for 2026

Economic growth to remain slow as the economy will struggle to increase the stock of available resou...

16 July 2025
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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
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