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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
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
MoF issues new USD-denominated paper
Yesterday, the Ministry of Finance almost doubled borrowings compared with last week, thanks to the...
24 September 2025
Increase in new primary placements
Yesterday, demand for military and regular bonds was more than threefold higher WoW, as investors re...
17 September 2025
Weekly Reviews
Monthly C/A gap narrows in August
The monthly current account (C/A) deficit narrowed to US$3.1bn from a record high of US$4.2bn in Jul...
6 October 2025
Optimism for Eurobonds strengthens
Continued discussions of the size and form of new financial support for Ukraine strengthened investo...
29 September 2025
Economic growth remains subdued in 2Q25
Ukraine’s GDP inched up 0.8% YoY in 2Q25, implying it was at just 79% of the pre-invasion (2Q21) lev...
22 September 2025
Macroeconomics
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
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
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