Stuart Culverhouse Head of Sovereign & Fixed Income Research
Tolu Alamutu Credit Research Analyst, Banks
September 25 2019
Ukraine: What to expect from IMF visit
With the IMF Article IV mission in Ukraine due to wrap up this week (see here), investors will be watching whether it concludes with a formal request for an IMF programme, or even a staff-level agreement on a new programme that could go to the board in the coming weeks. That is, assuming Kiev still wants a programme, given that it is able to borrow in the market in US$ at 7% or less (given where its eurobond yields are). We think it does, and media reported (as recently as 29 August) new Prime Minister Oleksiy Honcharuk stating that programme talks would commence soon. This intent was confirmed after a Cabinet meeting on 19 September, according to media...
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