Government to raise UAH 2.6 bln in bonds for Agrarian Fund
12 June 2012
Ukraine’s Cabinet of Ministers approved of plans to sell UAH 2.6 bln (USD 325 mln) in t-bills with maturities of up to five years to lend money to the Agrarian Fund, according to a note on the government’s website yesterday.
Vitaliy Vavryshchuk: With the local t-bill market remaining idle, we think the securities will be purchased by state banks, which will later sell them to the NBU. The issuance of such bonds will add 0.5% to Ukraine’s end-April public debt. At the same time, we think the above scheme is largely neutral for the execution of the state budget and the government’s liquidity in 2012.
