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Ukraine could sell new Eurobonds in H1 2018 - FinMin of Ukraine

January 23, 2018 | news.trust.org

LONDON, Jan 22 (Reuters) - Ukraine could return to international bond markets in the first half of 2018 and is likely to heed some of the International Monetary Fund's (IMF) suggestions for a law to set up an anti-corruption court, its finance minister said on Monday.

Speaking in London, Oleksandr Danylyuk said raising funds through Eurobond sales did not impair Ukraine's drive to reform.

"There are financial needs, and as a minister of finance I have to satisfy the needs. Whenever the markets are ready, whenever there is an optimal time for us, there is an obligation to tap the market," he told Reuters on the sidelines of a court case.

"We have plans for this year and investors are waiting for us," he said, adding it was "a possibility" this could happen before the end of June.

In response to reports that the IMF had told the Ukrainian authorities it does not support a draft law to create an anti-corruption court because the bill does not guarantee the court's independence, Danylyuk said the final outcome was paramount.

"I hope we will get a document that will satisfy everyone," adding he would not be surprised to see some of the IMF suggestions incorporated into the law.

"We always seriously look at what the IMF proposes to us, especially on issues where Ukraine has less experience."

Slow progress in establishing a court to handle corruption cases while demonstrating independence and transparency has been one of the main obstacles to the disbursement of a long-delayed loan tranche under the country's IMF aid-for-reforms programme.

Ukraine has never successfully completed an IMF programme to date, but Danylyuk added he was optimistic this time, if the reform momentum from last autumn was sustained.

"There are not that many things which we still have on the table to be completed," he said, though he declined to comment on whether Kiev would ask for the programme to be extended beyond its deadline at the start of 2019.

"2018 is not the end of the story – we have a very long-lasting cooperation with the IMF and it is clear we will continue to work together."

Danylyuk did not comment on the court case he was attending at the court of appeal in London. Russia and Ukraine kicked off the next round in their legal battle over a politically charged $3 billion Eurobond on Monday. (Reporting by Karin Strohecker; Editing by Richard Balmforth)

Company: Ukraine

Full company nameUkraine
Country of riskUkraine

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