At the end of April Ukraine’s domestic hryvnia-denominate debt market is set to be hooked up to the international Clearstream payment and settlement system that will open the market to a whole new pool of investment capital. Bond traders will be able to buy and sell Ukraine’s local debt directly from the comfort of their dealing desks in London and New York. This year $1bn of new capital has already entered the market and Goldman Sachs estimates that between $2-$6bn of new money could arrive in 2019.
bne IntelliNews editor-in-chief Ben Aris talks to Paul McNamara, an emerging markets veteran investment director in charge of EM bonds and currency about the pitfalls and risks of buying these extremely high yielding bonds.
Ben Aris, editor-in-chief, bne IntelliNews
Paul McNamara, investment director, GAM Investments