4 August 2010
Ukraine’s Finance Ministry announced yesterday that on August 2 it issued its first tranche of UAH 48.5 mln in special UAH sovereign bonds to cover VAT arrears to corporate exporters. In a statement, the Finance Ministry said it would issue further tranches of VAT bonds in the near future. Deputy Prime Minister Sergiy Tigipko said in mid-July the volume of the bond issue would be UAH 16.4 bln (USD 2.1 bln) down from an earlier estimate of UAH 17.7 bln. For more details on the VAT bond issue, see our flash note of July 7.