Ukraine might pursue Eurobond placement in 1H18, Danylyuk says

Ukraine might decide to return to the international
bond market in the first half this year, Ukrainian Finance Minister Oleksandr
Danylyuk said on Jan. 22 while in London, the Reuters news agency reported.
“Every time the markets are ready, when the time is optimal, we are
supposed to use the market,” he said. “We have plans for this year
and investors are awaiting us.” These plans “don’t weaken the
country’s attempts to conduct reforms” to achieve the next IMF loan
tranche, he said.

Recall, the IMF and other IFIs recently criticized
Ukrainian authorities for resisting reforms to address corruption, particularly
adopting a bill creating an independent High Anti-Corruption Court in line with
Western requirements. Danylyuk expressed his confidence that the final
anti-corruption bill “will satisfy everyone.”

Evgeniya Akhtyrko: Such plans
for external financing are in line with our expectations for at least one IMF
loan tranche this year at USD 1 bln and to borrow another USD 1 bln with a
Eurobond placement. Another planned EU aid of EUR 0.6 bln, as well as the
recently announced USD 0.8 bln possible assistance from the World Bank, will
also depend on Ukraine’s systemic reforms, particularly the independent court.