Ukraine: shadow economy down in H1 2018

The share of Ukraine’s shadow economy totaled 32% of GDP in the first half of 2018, down by 3% YoY, the press service of the Economic Development Ministry reports. According to the ministry, the shadow economy in Ukraine declined due to maintaining macroeconomic stability, creating favorable conditions for doing business in Ukraine and preserving the…

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Georgia: economic performance strong

Georgia’s economic performance remains strong, but downside risks to the outlook have increased, reads the third review of the International Monetary Fund (IMF) of Georgia’s performance under the 3-year Extended Fund Facility (EFF). The executive board of the IMF completed the third review on December 19. The completion of the review will release about $41.6…

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Ukraine: NBU decides to liquidate VTB Bank

The National Bank of Ukraine on December 18 made a decision to terminate the banking license of Kyiv’s VTB Bank, a subsidiary of the eponymous Russian lender, the press service of the Individuals’ Deposit Guarantee Fund reported. “The Deposit Guarantee Fund made the corresponding decision based on the National Bank decision on December 18 on…

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