Cabinet Sets Floating Interest Rate On War Bonds

The Cabinet of Ministers has set a floating interest rate on war bonds.

This is stated in government decree No. 659, Ukrainian News Agency reports.

Thus, the Cabinet decided to amend the relevant resolution and replaced the words "11 percent per annum" with the words "floating rate, which is calculated based on the average value of the National Bank's discount rate for the annual period, which ends on the first day of the month preceding the month of the next coupon payments and begins on the first day of the same month of the previous year."

As Ukrainian News Agency earlier reported, the Cabinet of Ministers intends to gradually issue war bonds of up to UAH 400 billion.

President Volodymyr Zelenskyy recommends that the National Bank buy war bonds.

On March 22, 2022, the National Bank began publishing statistics from the NBU depository on war bonds on a weekly basis.