As Russia's invasion of Ukraine moves into its eighth week, the National Bank of Ukraine (NBU) has found itself fighting another battle – one to prevent its economy from total collapse.
Debtwire spoke to Kyrylo Shevchenko, the governor of the NBU, about the tools the bank is using to support Ukraine's economic and financial situation, the support it requires from the international financing community and the outlook for Ukrainian external bond repayments.
The NBU’s economic outlook for 2022 is, to no surprise, a negative one. When Debtwire last sat down with Shevchenko in December 2021, there were hopes that tensions on Ukraine’s eastern border would ease and Ukraine could see economic growth of 3.8% year-on-year in 2022. It is very difficult to estimate the economic shock of the war as of yet, but it will be "tremendous", according to the NBU.
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