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Banking & Finance

Policy Progress: National Bank Introduces New Measures to Ease FX Restrictions

Policy Progress: National Bank Introduces New Measures to Ease FX Restrictions

The American Chamber of Commerce in Ukraine welcomes the decision of the National Bank of Ukraine (NBU) to liberalize the currency market and ease currency control, adopted by the respective NBU BoardResolution #56On Amendments to NBU Board Resolution #18 dated February 24, 2022”on May 3, 2024(Resolution #56).

The Resolution #56 introduces the following changes:

  • FX restrictions will be lifted for imports of works and services;
  • an opportunity to repatriate dividends starting from January 1, 2024 and transfer funds abroad to pay for lease/rent will be granted;
  • restrictions on repayment of external loans after June 20, 2023 will be relaxed;
  • the opportunity to pay interest payments on "old" external loans will be granted;
  • restrictions on transferring foreign currency from representative offices to their parent companies will be eased.

The above-mentioned changes will help improve the business environment in Ukraine and encourage local companies to expand their business abroad, increase financial support for economic recovery, and meet the state's needs in the fight against russian aggression. Moreover, these changes will promote new investment inflows to Ukraine.

AmCham expresses its gratitude to the NBU for continuing currency liberalization to ensure the stable functioning of the banking system under martial law and for considering the AmChammember companies’ proposals. We hope to continue constructive cooperation and rely on the NBU to support the business community’s position as further changes to Resolution #18 are developed.

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