Ukraine recently sold 270 million USD worth of short-term bonds, adding much-needed liquidity to the nation’s coffers. The big deal here is that these short-term bonds were placed at a price of just 5.52% annualised return for the three-month bonds, and 5.89% for the six-month version. If we go back just a few years, international investors wouldn’t touch Ukrainian debt unless they were assured of double-digit returns. This is a sure sign of confidence in the economy for those who see the glass as half full!
Of course, for the realists, this is but a sticking plaster being placed on a deep wound. While the low coupon percentage certainly is meaningful, Ukraine has a much bigger hole to fill in treasury finances, and the only way to get that hole filled is to get the IMF aid programme back on track, whatever difficult choices that may entail. In the short term, a gap has been plugged, but in the medium term, Ukraine needs billions, not short-term borrowing in the millions.
Our guest columnist this week, Yuri Palokiwsky, has eloquently described the Ukrainian perspective on Ukraine’s move to gain more religious autonomy. Moscow has a different perspective. For the nonreligious among us, this may be a confusing topic, but the bottom line is that the activities of the Russian branch of the Orthodox church in Ukraine […]
A man who came out of nowhere, had no political clout or reputation, had no local following or history of community leadership, had been put in charge (by Moscow) of the unrecognised non-entity created (by Moscow) in Ukraine’s Donetsk region that is (nominally) called the “Donetsk People’s Republic.” His name was Alexander Zakharchenko, and he […]
After two successful seasons of holding a national championship, the Ukrainian Ice Hockey Federation announced this summer that they will launch a national women’s team for the first time in 23 years. The federation announced that Vadim Radchenko, coach of the national champion Kharkiv Panthers, will be the team’s first head coach. Tryouts for the […]
In years gone by, Ukrainians were forced to wait in lines outside embassies in all seasons to submit mountains of documents in order to obtain visas to travel to different countries. That was considered “normal”, or at least just how things were. But much has changed over the last few years, and Ukrainians now hold […]