Section: Economy
Synchronized power grids of EU, Ukraine to contribute to Ukrainian exports – Ukraine`s national nuclear energy generating company
President of Ukraine`s national nuclear energy generating company Energoatom Yuriy Nedashkovsky says that full synchronization of the Ukrainian power grids with the European Network of Transmission System Operators for Electricity (ENTSO-E) will increase the capacity of Ukrainian power exports to the EU, up to 4 GW, according to Energoatom`s...
Moody`s downgrades PrivatBank`s senior unsecured debt rating
Moody`s Investors Service has today downgraded the long-term foreign-currency senior unsecured debt rating of PrivatBank to C from Ca, according to a posting on the agency`s website. The bank`s baseline credit assessment (”BCA”), adjusted BCA, long and short-term local and foreign currency deposit ratings, and its long and short-term Counterparty...
IMF promises Ukraine another $4.4 bln by year-end for reforms on time
Ukraine`s key lender, the International Monetary Fund (IMF), could extend three more disbursements to the country under the Extended Fund Facility (EFF) this year to the tune of US$4.4 billion if the Ukrainian government delivers reforms on time, according to an IMF spokesman. ”We could have three more reviews completed this year if, let me...
Bloomberg: Oil spikes as U.S. strike against Syria roils global markets
Oil jumped as the U.S. cruise missile attack against Syria roiled global financial markets, according to Bloomberg. Futures in New York and London surged more than 2 percent to the highest in a month, Bloomberg said. The strike early Friday morning targeted hangars, planes and fuel tanks at one Syrian military airfield, according to a U.S....
Bitcoin investments in Ukraine quintuple throughout 2016 – NewsBTC
Ukraine is the first country to launch sanctioned bitcoin futures trading on a national exchange, according to NewsBTC, a news service that covers bitcoin news. It is quite interesting to see bitcoin investments in Ukraine going up. It is important to note these figures are still relatively small, though. The year 2016 saw an average investment...
Ukraine promises IMF to cut public sector jobs
The Ukrainian authorities are launching a medium-term program to cut jobs in a public sector, planning to reduce the number of civil servants (excluding military servicemen) by 4% by the end of 2017 and another 10% by the end of 2019, according to the updated Memorandum signed with the International Monetary Fund on the results of the third...
Ukraine intends to boost poultry exports to Saudi Arabia
Ukraine intends to boost poultry shipments to Saudi Arabia with a simultaneous increase in the number of Ukrainian enterprises certified to export such produce to that country, according to the State Food Safety and Consumer Protection Service`s press service referring to the agency`s head Volodymyr Lapa. ”Now, four Ukrainian enterprises have the...
Ukraine`s international reserves shrink to $15.1 bln in March
International reserves of Ukraine fell by 2.2%, to the equivalent of $15.123 billion, according to the National Bank of Ukraine`s website referring to preliminary data as of April 1, 2017. The drop is due to servicing and repayment of state and publicly guaranteed debt in foreign currency. In particular, $ 582.1 million was allocated for...
Ukraine wants to get another $8 bln in loans by year-end
Ukraine plans to receive from international partners another $8 billion by the end of 2017, including three more disbursements from the International Monetary Fund, that is $1.9 billion in May, and in August and September, $1.3 billion each, according to an updated memorandum on cooperation between Ukraine and the IMF under the Extended Fund...
Ukraine-IMF Memorandum assumes restructuring of ”Yanukovych debt”
The updated Memorandum on cooperation under Extended Fund Facility signed by Ukraine and the International Monetary Fund assumes that the restructuring will be achieved of a $3 billion ”Russian debt” on general terms, applied to other holders of Ukrainian Eurobonds, who have agreed to restructuring. ”It is assumed that the Russian-held bond will...