- In an atmosphere of political crisis, the new head of the NBU was approved by Parliament.
- The FATF decided to recommend to its members to impose counter-measures on Ukraine.
- The introduction of import quotas on grain by the EU induced Ukraine to search for new markets.
- The 2003 Budget was approved in December with a UAH 2 bn deficit.
- The Government issued UAH 1.3 bn of long-term domestic state bonds with a current yield of 9%.
- The Ministry of Finance set a negative interest rate on POVDPs, mainly held by the NBU.
- The NBU reduced the discount rate from 8% to 7%.