Ukraine Flash Notes

Amid Positive News and Legal Threats

January 25, 2017BancTrust & Co. Research Team

Expectations on Ukraine are getting bigger this year, since harder times seem to have passed. The first positive result of the year shows us that the Consumer Price Index (CPI) in 2016 remained in line with the National Bank of

Ukraine Flash Notes

2017: An Opportunity for Further Improvement

December 23, 2016BancTrust & Co. Research Team

During 2016, the Ukrainian economy has demonstrated some advance, and the latest results hint towards positive perspectives. According to the State Statistic Service of Ukraine, GDP increased 2% y-o-y and 0.5% q-o-q in 3Q16 while accumulating a 1.2% YTD increase.

Ukraine Flash Notes

The End of Yatsenyuk’s Road

April 11, 2016Hernán Yellati, Guillermo Quiroga & Oriana Covault

Prime Minister Arseniy Yatsenyuk announced his resignation on Sunday Parliament speaker Volodymyr Groysman is expected to be the next Prime minister, while Natalie Jaresko would be leaving the finance Ministry It remains to be seen if the new government will

Ukraine Flash Notes

Baby Steps

September 28, 2015Guillermo Quiroga & Hernán Yellati

· Ukrainian Central Bank cut borrowing rates from 27% to 22% · International Financial Institutions lent Naftogaz USD500mn to begin gas imports after Ukrainian-Russian gas deal is signed · A Dutch referendum could bring down trade with the country’s 3rd

Ukraine Flash Notes

Debt Under Control?

September 24, 2015Guillermo Quiroga & Hernán Yellati

• Ukraine froze payment on an USD500mn principal due 20 September • Ukraine is on a “potential moratorium” according to ISDA. A meeting on Friday could lead to CDS payments, but we see it unlikely • Seems like the country

  • Tuesday, January 16 2018

    Venezuela:

    - Yesterday the President Nicolas Maduro gave its yearly speech which should be something close to the state of the union and that according to the constitution should be presented in front of the National Assembly. However, this year and arguing the illegality of the National Assembly, the decision was to give his speech in front of the National Constituent Assembly. In detail, more than a state of the union this was one of the usual speech of the President with not much data to collect. Among

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  • Monday, January 15 2018

    Venezuela:

    - The dialogue meeting held in the Dominican Republic between members of the opposition and the government last weekend culminated again without any results. International mediators indicated that although some agreements were reached, several points remain pending and both parties will meet again this Thursday, January 18. In our opinion, it was expected that results would not be achieved,as we have been saying we believe that the most likely to happen is that the negotiation rounds will culmin

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  • Friday, January 12 2018

    Venezuela:

    - The National Electoral Council (CNE in Spanish) announced that it has approved the schedule for the validation of political parties that did not participate in the last municipal elections which it will take place on 27 and 28 of January. The process will be carried out to comply with the order of the National Constituent Assembly (ANC), which has as its sole purpose to be another obstacle for the opposition. We believe that at the moment the attention is focused on the negotiations in the Dom

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  • Thursday, January 11 2018

    Venezuela:

    - The situation regarding Venezuela’s debt with Brazil received yesterday two mixed updates, as the Brazilian Ministry of Finance reported that the first paid an old debt but that it is still in arrears with another payment. In detail, the ministry informed that Venezuela paid USD262.5mn – corresponding to the May-August period of 2017 – on 5 January as part of their commitments under the Reciprocal Credit and Payments Agreement (CCR), which is part of the benefits of the Latin American In

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