Finance
Public debt up on loans from EU, IFIs Bonds: Domestic borrowings fell short of redemptions in November In November, the Ministry of Finance borrowed UAH21.7bn (US$593m) from the domestic bond market i
Dec. 6, 2022
War in Ukraine
Nov. 30 I woke up to hear the welcome news that EC big wig Ursula Von Der Leyen is committing to use frozen Russian assets for Ukraine’s reconstruction. Absolutely…. No brainer. Arguments against are
Dec. 3, 2022
MoF raises interest rates again The auction held on Nov. 29 brought more than UAH21bn (US$573m) to the state budget.
Dec. 2, 2022
Bonds: Ministry of Finance prefers financing from NBU Last week, the Ministry of Finance refused to satisfy demand for military bills for over UAH5bn (US$137m), instead borrowing UAH15bn (US$410m) fro
Nov. 29, 2022
Bonds: Selective rate hikes in the primary market continue The Ministry of Finance once again agreed to raise rates for several bills where demand exceeded UAH1bn (US$27m), which allowed it to rise UA
Nov. 24, 2022
MoF rejects aggressive demand At the auction on Nov. 22, the Ministry of Finance rejected 80% of demand by refusing to raise interest rates on most bonds. As a result, they attracted only UAH1.2bn (US
Nov. 23, 2022
Rates higher; borrowings larger On Nov. 15, the Ministry of Finance again raised interest rates on UAH bills and attracted a total of UAH5bn (US$137m), mostly in local currency. FX-denominated paper r
Nov. 17, 2022
Bonds: Individuals remain most stable investors in domestic bills Activity on the bond market remained low last week, with bond portfolios of individuals increasing more than others. In the absence of
Nov. 16, 2022
Bonds: Trading in UAH bonds increases due to reinvestment The secondary bond market became more active, most likely thanks to those who reinvested proceeds that were redeemed last week. However, the e
Nov. 8, 2022
Domestic borrowings increase On Nov. 1, the Ministry of Finance raised more than UAH13bn (US$365m), including almost UAH12bn (US$326m) through UAH-denominated instruments, mainly through bills with in
Nov. 2, 2022
Bonds: MinFin increases rates on UAH bills Last week, the Ministry of Finance again increased interest rates on military bills, this time on the 1.5-year paper. This led to higher borrowings, but redu
Nov. 1, 2022
Bonds: MoF and NBU: new round of dialogue about interest rates The National Bank seeks to maintain a discussion with the Ministry of Finance regarding interest rates for local-currency bonds while the
Oct. 25, 2022
Finance Ministry takes cautious steps toward market The primary auction had an expanded bond offering yesterday, as the Ministry of Finance added two non-military bills. Perhaps the most important th
Oct. 20, 2022
Bonds: Conditions for debt refinancing deteriorate Despite significant redemptions of UAH government bonds last week, new purchases remained moderate. Last Tuesday, the government managed to borrow UA
Oct. 18, 2022
War in Ukraine
Russia’s economy may face multiple long-term challenges, but for now energy exports appear to be helping it ride out Western sanctions imposed over the offensive against Ukraine. Moscow says inflation
Oct. 12, 2022
Bonds: Investors await signals from new NBU governor The activity in the domestic bond market fell significantly in anticipation of signals from the new NBU governor. During the past week, the volume
Oct. 11, 2022
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Ukraine’s Ministry of Finance again sold the planned volume of all military and reserve bonds, receiving significant oversubscription. Bond Market Insight for Nov. 13
Nov. 13