The National Bank of Ukraine has decided to reimpose rate limitations on foreign loans that were cancelled in October 2008 because of the global financial crisis, a source in the NBU told Interfax-Ukraine. “We set maximum rates on foreign loans. For loans taken for less than one year [the rate is] 9%, [loans taken] for one up to three years 10%, and for [loans taken] longer that three years 11%,” a source said. The board of directors of the central bank took a relevant decision at its sitting on Thursday. As reported, under the NBU resolution as of September 25, 2008 (No. 294) rate limitations on foreign loans taken for more than a year were canceled, while the maximum rate on foreign loans taken for less than a year was set at 11%. – Interfax Ukraine
Now that is going to screw up some financial forecasts for some banks who lent and still lend at between 20 – 27% interest!
Not that I particularly mind as they are all robbing b*st*rds when it comes to interest on loans in Ukraine!