Ukraine’s Central Bank said it will allow foreign investors in domestic bonds to remit income from bonds after April 1 next year.
Foreigners held 75.2 billion hryvnias. ($2.55 billion) Bonds before Russia began its invasion on February 24.
However, the portfolio narrowed after the central bank banned the purchase of foreign currencies and remittances abroad, except for payments for strategic or essential items such as arms, fuel and medicine.
“Implementation of the norm will increase interest in non-residents’ purchases of domestic government bonds, particularly funds received from planned repayments and income payments,” the bank said in a statement on Monday.
Ukraine’s treasury is struggling to borrow money from local markets to fill its escalating fiscal deficit due to rising spending demand and declining tax revenues while Moscow is calling it a “special military operation”.
Ukraine Allows Foreigners to Transfer Bond Income From April 2023 – SABC News
Source link Ukraine Allows Foreigners to Transfer Bond Income From April 2023 – SABC News