Fixed Income
The IMF’s statement that its board of directors will finally consider granting Ukraine its third tranche under last year’s cooperation program acted as a catalyst to push up quotes for the country’s sovereign Eurobonds. Officials emphasize that a positive decision on the tranche will help to further build up the National Bank’s reserves and put the economy back onto a path of sustainable growth. Approval of the program review will also unlock financing from other international donors, as well as from domestic and foreign private investors. Among released internal statistics last week, there was data for consumer prices, which showed that 12-month headline inflation accelerated to 8.4% in August compared to 7.9% in July and 6.9% in June.
