This positive signal gave the green light for $2 billion Eurobond placement, and more credit from the EU and the World Bank. The IMF deal still must be approved by the IMF Executive Board, after Ukraine’s 2019 budget is passed. But the news has already improved sentiment, and has removed concerns about sliding gross international reserves, for now. Hopefully, the placement of Eurobonds ahead of the finalized IMF deal won’t become a repeat of last year’s situation, when Ukraine’s leadership dropped its commitments as soon as the Eurobond funds arrived. More about recent tendencies you can read in our new report “Cash, Just In Time for Elections”. The full report could be obtained through subscription at Global Source (www.globalsourcepartners.com). Trial access is available.
13.11.2018
The situation in Ukraine has been intense in recent weeks. Residential gas prices have finally been raised by 23.5%, and the IMF immediately announced a staff-level agreement on a new 14-month Standby arrangement—a credit line worth up to $3.9 billion.