the hyenas arrived.... International Monetary Fund representatives are scheduled to arrive in Kiev this week to review Ukraine’s steps to cut the budget deficit before releasing further funds from a $17 billion loan package, Prime Minister Arseniy Yatsenyuk said on Dec. 30. Two tranches of the aid, due last year, have been delayed as the country took a month to form a coalition government after Oct. 26 elections, and another month to pass its 2015 budget. “Ukraine needs a completely re-designed IMF program” and “consideration of private-sector involvement in a new program is expected,” Nicolaie Alexandru-Chidesciuc, a JPMorgan Chase & Co. economist in London, wrote in a report to clients dated yesterday. “Principal haircuts may be needed eventually.” bloomberg/news/2015-01-05/ukraine-bonds-at-60-cents-seen-signaling-risk-of-default.html
Posted on: Tue, 06 Jan 2015 17:40:10 +0000
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