Restructuring talks are slow The MoF held consultations with bondholders for a month till now at a significantly slower pace than Ukraine Finance Minister Natalie Jaresko anticipated

Restructuring talks are slow The MoF held consultations with bondholders for a month till now at a significantly slower pace than Ukraine Finance Minister Natalie Jaresko anticipated,


 the WSJ reported. She warned investors that long negotiations could face them with new risks of an economic amidst a deterioration or war escalation. Investment implications: Ukraine needs to restructure debt prior the EFF revision in June. These warnings are mostly psychological messages to investors more as a strategic step. While the MoF does not include a principal revision in the state-owned bank Eurobond restructuring, they will maintain a principal haircut and cost decrease for sovereign debt. The situation looks like the main talks will be on these positions. Prices of Ukrainian Eurobonds should remain at about 45 without significant movements yesterday, reflecting the pause in talks and exchange of letters. Today’s presentation should clarify the situation and slightly quicken negotiations. Taras Kotovych, Kiev, +38044 2200120 ext.724