Fixed Income
February 01, 2016
Ukrainian sovereign Eurobonds somewhat surprisingly posted gains last week despite the NBU lowering its forecast for Ukraine’s GDP growth this year from 2.4% to 1.1%, while leaving the inflation forecast at 12%. On the other hand, the central bank raised its forecast for a surplus of the country’s balance of payment for 2016 to USD 600mn, from a deficit of USD 200mn. Among political developments, President Poroshenko announced several lawsuits to defend Ukraine’s state interests in Russian-occupied Crimea. He said the suits will be lodged with various international courts. The lawsuits are related to a broad range of issues, from the protection of property rights to personal responsibility of specific individuals.
