Five soldiers killed in renewed east Ukraine violence – OR
The yield on the eastern European nation’s dollar-denominated bond maturing 2025 was 9.03 percent at 3:03 p.m.in Kyiv, about 1.5 percentage points higher than similar-maturity notes of Pakistan and Egypt, and 2.4 percentage points above Lebanon’s debt.
Relations between Ukraine and Russian Federation have worsened since the latter’s annexation of the Crimean Peninsula in early 2014, and the subsequent secessionist struggle in eastern Ukraine led by pro-Moscow rebels.
The program had been approved by most of Ukraine’s creditors on October 14. “The yield level well cover all the risks Ukraine’s economy faces in the near future as there are no immediate threats to the country’s solvency”. The war has cost Ukraine at least 7 percent of GDP in lost production, and foreign investors have been scared off. Russian Federation has also pursued a trade war against Ukraine, eliminating 18 percent of the country’s prior exports.
“We strongly have urged Russian Federation to participate along with other bondholders in that agreement”, US Treasury Secretary Jacob Lew said at a joint press conference in Kyiv with Ukrainian Prime Minister Arseniy Yatsenyuk and Minister of Finance Natalie Jaresko. “If Russian Federation does not agree, the government will impose a moratorium on the repayment of the debt”, he said.
“The Ministry of Finance of Ukraine is glad to announce that it has concluded restructuring its government debt and guaranteed loans across 13 government bond and guaranteed Eurobond issues”, a ministry statement said.