Ukraine Needs $4.2 Billion or More in Bank Boost, Kubiv Says
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Ukraine’s banks need at least 50 billion hryvnia ($4.2 billion) to 60 billion hryvnia in fresh capital, central bank Governor Stepan Kubiv said, giving a more downbeat view than the country’s biggest foreign lender.
The monetary authority seeks to maintain the solvency of the banking system after Russia’s annexation of Crimea and a war against pro-Russian separatists in the east drove off foreign investors and shut bank branches in areas wracked by violence. The economy may shrink 7 percent this year, the European Bank for Reconstruction & Development said this week. The hryvnia extended the world’s biggest slump today.