Ukraine's Finance Ministry plans to enter foreign capital market

Ukraine's Finance Ministry plans to enter foreign capital marketUkraine's Finance Ministry intends to enter the foreign capital market after receiving a new tranche from the International Monetary Fund (IMF), Finance Minister Oleksandr Danylyuk has said.

This is reported by Interfax-Ukraine.

"I plan to enter the market when we have the decision from the IMF that they provide the new tranche. This is a positive signal that investors are following," he said at a briefing in Kyiv.

Danylyuk said at the beginning of April that Ukraine planned to return to this market as part of its bid to gradually replace IMF funding and financing from other international organizations with commercial borrowing.

Danylyuk said that Ukraine would seek to raise around $500 million. At the same time, he said no final decision has been made.

Ukraine placed five-year eurobonds guaranteed by $1 billion by the U.S. government each year in 2014 through 2016. The last time Ukraine placed a bond issue on commercial terms was in 2013 when it sold ten-year dollar-denominated eurobonds for $1.25 billion at a 7.5% rate.

The program for managing state debt in 2017 approved by the Finance Ministry on January 31 provides for borrowing UAH 86.89 billion on foreign markets.
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Июнь 2019    »