DONORNOMICS: My New Term for the Ukrainian Economy
A new type of economy has taken shape in Ukraine — and the most appropriate term for it is Donornomics. In textbooks, an economy is a...
Sep 301 min read
Silent Devaluation: What’s Happening to the Hryvnia — and Who Really Controls the Exchange Rate
Following reports that the IMF is insisting on a hryvnia devaluation as part of negotiations for a new program worth roughly $8 billion (according to Bloomberg/Reuters estimates), the topic has entered the public domain. The National Bank of Ukraine (NBU) denies any “IMF-driven devaluation,” citing inflation and social risks. Yet the actual exchange-rate dynamics indicate a gradual adjustment: • On 1 October 2025, the official USD/UAH rate stood at ₴41.1420 (NBU).• On 20 Octo
Oct 272 min read
The Parlament of Ukraine has once again raised the corporate income tax on banks — to 50% starting in 2026
Officially, this measure is temporary, until the first quarter of 2027. In practice — it is the third consecutive extension. For the state budget, it is a quick fix: according to estimates, the government will collect an additional UAH 15–23 billion in 2026. In wartime conditions, that looks tempting. The banking sector remains profitable — with over UAH 150 billion in net profit in 2024 — so the political logic is simple: “take it from those who have it.” From an economic st
Oct 272 min read
DEFAULT AS IT IS: FROM ILLUSION TO REALITY
While the Ukrainian authorities continue to speak of “macroeconomic stability” and “high reserves,” the country is in fact entering a...
Sep 303 min read
