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
It’s not just about tariffs. Something deeper is shifting
The global trade model that dominated the post-Cold War era is being quietly but fundamentally rewritten. For decades, the US offered its...
Sep 302 min read
NBU Fixes the Rate in the Zone of Imitation
The National Bank of Ukraine has kept its key policy rate at 15.5% per annum, citing a decline in inflation to 13.2% and the persistence...
Sep 302 min read
Autumn 2025: Can Ukraine Avoid a Macroeconomic Collapse?
As Ukraine enters autumn 2025, its economy teeters on the brink of a new macroeconomic shock, with its recovery potential exhausted. The...
Sep 306 min read
