A best guess or pie in the sky? Ukrainian budget 2013


Although I studied economics as part of a degree in Business Management and Finance many moons ago, I can say without a shadow of a doubt that it was not exactly the most interesting of subjects, and one in which I had to motivate myself to maintain a respectable overall end grade. The fact it […]

Hryvnia devaluation coming soon?


Here is a bit of crystal ball gazing, or maybe navel gazing, and quite possibly a completely misguided forecast for the period November 2012 and following months relating to the Ukrainian currency, the Hryvina. Whilst no doubt the Hrynia will remain relatively stable against other currencies over the summer, primarily due to the parliamentary elections […]

Nobody at the World Bank get the memo about Ukraine?

You will recall my ruminations of a few days ago relating to the USA putting pressure on Ukraine via the IMF? -  Yes you do, I wrote of Ukrainian red lines as far as Tymoshenko is concerned whether you are the EU, USA or IMF. You will remember I informed you of Mrs Rodham Clinton’s chap, […]

IMF Pressure on Ukraine

It’s been a long time since I mentioned the IMF and Ukraine.  Basically because it is has been a long time since the IMF lent any money to Ukraine.  More than 12 months in fact. The reason being Ukraine’s reluctance to put up gas prices again for domestic and commercial users.  Now, you can understand […]

Ukraine: Delete IMF, Insert China

Well here is an interesting article in Kommersant. China will replace the IMF in Ukraine. So why has Kyiv fallen out with the IMF? Officially no doubt over the refusal of the current government to raise the prices to consumers of utilities even more than it already has done. It should be noted that utility […]

National Bank of Ukraine to hold Yuan

Oh dear. The IMF is getting in a tizzy because the National Bank of Ukraine and National Bank of China have come to an agreement on Ukraine holding the Yuan as part of its reserve currency. According to Kommersant Ukrainy newspaper, an NBU official has stated “We will only hold about $2.5 billion in Yuan […]

The break up of Naftogaz Ukraine

Well, it was called for by the EBRD, IMF and no doubt numerous diplomats and governments behind the scenes in order to add weight to the IMF and EBRD voices. It seems the behemoth that is the State owned Naftogaz Ukraine is going to be broken up and sold off.  To what degree it will […]

Fluctuating currency

Fluctuating currency? According to Bloomberg who quote Yuri Kobolov, Deputy Governor of the National Bank of Ukraine,  the Ukrainian Hryvnia will fluctuate no more than 2% - 5% in the next two years. The Hryvnia is currently UAH 8 to $1 (or close enough to make no difference to the average person on the street). […]

Ukraine must stop foreign borrowing - Azarov‏

Well you did wonder when Ukraine was going to mirror the political divides of the US, the UK and many other EU nations over the issue of debts and deficits. It seems Ukrainian Prime Minister Azarov would take an extremely cautious and conservative view. “We have to restrict, or maybe even completely suspend foreign borrowing, […]

EBRD and EIB make pledges for the GTS

Remember what I wrote yesterday about external factors influencing the current lack of political will to address the utility subsidies in Ukraine? No? - Briefly I said there is a political unwillingness amongst the current government to remove or reduce the current, exceptionally expensive subsidies on  utilities to Ukrainians at present.  A major reason being […]