Ukraine is expected to pay $120 million coupon today

UKRAINE - In Brief 24 Jul 2015 by Dmytro Boyarchuk
Scarce information is available on negotiations with creditors. What we know is that no agreement was reached so far while the IMF promised to pay money whatever happens on debt operations. In this context the main question was whether Finance Ministry will dare to impose moratorium on debt repayments today (on July 24th $120 million coupon is due for payment) or the story with intimidation of creditors will continue till September. As some rumors are saying – payment of $120 million coupon today is almost secured. No volatility at FX market over the last few days is another indicator that Finance Ministry does not have intention to impose moratorium. Should there be any plan for a tough play, insiders would already start acting at the FX in anticipation of consequences. Hopefully the rumors are correct.

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