“Ukraine was the top improver” - You don’t read that very often!

“Ukraine was the top improver in 2012/13, implementing reforms in 8 of the 10 areas measured by Doing Business.”


It’s not often you read anything that states Ukraine was the most improved at anything - and yet it is there in black and white, front and centre, on Page 9 of the World Bank/IFC “Doing Business 2014” Report.

Tempted as I am to belittle this achievement by pointing out it still remains ranked at a lowly 112th place and thus a move from “truly awful” to simply “awful” is far easier to achieve than a move from “very good” to “exemplary” by comparison, I should perhaps concentrate on the positive.

Any improvement, no matter how slight, should be welcomed - It could have moved in the other direction and gone from “truly awful” to “complete and utter nightmare” - but it didn’t.

The question is now, if the Association Agreement is signed, whether Ukraine will retain the title of “top improver” in the next few annual reports with the EU dragging it along the path of reform on occasion.

Time will tell.


  1. Without any
    prior warning, 15-25% from all savings accounts just recently and now, without warning
    again, …

    A couple of
    interesting Ukrainian articles for those of you who have Ukrainian bank
    accounts in USD or EUR. Beginning from today, you can’t withdraw USD or EUR in
    Ukrainian banks or via Ukrainian ATMs. UAH only! (Well, technically, there is a
    way out and there are some exceptions. Check with your bank for more details. I
    solved my situation by opening a current account and transferring USD from the
    card acc. to the current acc. Hope this helps.)

    Ukraine has
    imposed a ban on foreign currency withdrawals from bank card accounts

    September 2, 2014 12:05

    The National Bank of
    Ukraine has decided that, starting Tuesday, September 2, cardholders can
    withdraw cash from Ukrainian ATMs in Ukrainian hryvnias only, says the
    regulator. “All electronic payment instruments, whether issued by
    residents or non-residents, shall be cashable in Ukraine in Ukrainian hryvnias
    (UAH) only,” says the National Bank’s decision. The document also notes
    that individuals can receive foreign currency remittances from abroad in UAH

    The regulator’s
    decision also requires that banks limit withdrawals in national currency
    through cash desks and ATMs to a maximum of UAH 150,000 per individual customer
    per day. However, there will be some exceptions to this rule, e.g., the payment
    of salaries and wages. These rules will be in effect until December 2.

    We recall that, on
    August 12, the official hryvnia rate fell to the lowest level in the history of
    the independent currency. The previous record fall of the hryvnia exchange rate
    was recorded on April 14, 2014, when the National Bank priced the dollar at
    12,977 hryvnias. Since then, the hryvnia strengthened somewhat and the dollar
    held steady between 11 and 12 hryvnias May through July 2014. And only on July
    31 the hryvnia fell below the mark.

    Read more:http://quote.rbc.ru/person/2014/09/02/34210290.html

    September 9, 2014 12:20

    The National
    Bank of Ukraine has extended the limit on withdrawals from foreign currency
    deposits (one customer can withdraw a maximum of UAH 15,000 in one day)

    The National Bank of Ukraine has
    extended its restriction on withdrawing (receiving) more than UAH 15,000 worth
    (at the official exchange rate) of foreign currency from current and deposit
    accounts through cash desks and ATMs per individual customer per day until
    December 1.

    This is stated in Decision of the
    National Bank number 540.

    The regulator has also extended its ban
    on withdrawing more than UAH 150,000 per day from hryvnia-denominated deposit
    and card accounts for another three months.

    The restriction on withdrawals from
    foreign currency deposits was introduced on March 1 and was extended