PM: Ukraine may place eurobonds by 2011.

By bne IntelliNews July 30, 2010
PM Mykola Azarov does not exclude Ukraine's placing eurobonds by the end of 2010 although the International Monetary Fund (IMF) has made a decision to allocate USD 15.15bn to Ukraine in credit within two years and a half. Azarov has said this to the press commenting on the decision of the executive board of the International Monetary Fund to grant Ukraine a loan. Ukraine may raise external loans through a mechanism of eurobonds under the agreements reached between Ukraine and the International Monetary Fund, the prime minister emphasized. Thus, the agreements state that the national budget deficit shall not exceed UAH 60bn by the end of the current year, he added. Investors offered unacceptable conditions for Ukraine to place eurobonds in the road-show the Ministry of Finance held in early July, the prime minister added. The financial situation on the market was unfavourable and we decided to leave the market because of disadvantageous conditions offered, Azarov specified. At the same time he noted Ukraine could resume seeking for external loans as soon as optimal conditions on the foreign markers were set out.

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