German-Ukrainian Chamber of Commerce and Industry proposes to ease currency restrictions in Ukraine
The German-Ukrainian Chamber of Commerce and Industry has published its proposals for easing currency restrictions in Ukraine. This was reported by RBC-Ukraine with reference to the Chamber's report.
It notes that at the beginning of the full-scale invasion, currency restrictions were introduced as a key measure to protect banking and currency stability in Ukraine, but now they have had a negative impact on attracting new foreign investment.
In general, the Chamber welcomes the NBU's actions to ease currency restrictions, but emphasizes the rather limited steps taken to allow cross-border disbursements of new loans.
As part of its comments, the German-Ukrainian Chamber of Commerce and Industry proposes to allow repayment of loans issued after February 24, 2022.
"As a next step, we propose to include the cross-border outflow of dividends of new investments made after February 24, 2022 in a limited amount. For example, a pre-determined share or an absolute limitation of annual dividends for repatriation," the report said.
The Chamber also proposes to ease restrictions on cross-border payments under new lease agreements concluded after February 24, 2022.
"These steps will send important signals to foreign-owned companies considering investing in Ukraine during the war, which the country needs to rebuild and recover economically," the report emphasized.
Earlier, the International Monetary Fund (IMF) called for further easing of currency restrictions currently in place in Ukraine.
Author: Artem Horovenko.
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