Ukraine May Default
World Economy

Ukraine May Default

The Fitch ratings agency has affirmed Ukraine’s long-term foreign currency Issuer Default Rating at ‘CCC’, meaning that default remains a real possibility, Sputnik reported. “The affirmation of the ratings reflects a lack of progress on the reform program needed to unlock donor support, which has been exacerbated by political wrangling,” Fitch said in a press release on Friday. Fitch argued that the new government of Prime Minister Volodymyr Groysman is likely to move ahead with the reforms. “However, given the coalition’s narrow majority (one seat) as well as weak party discipline within President Petro Poroshenko’s party, Fitch expects progress on further reforms to be piecemeal with continued delays in IMF financing highly probable,” the press release said.

Short URL : http://goo.gl/Oxg66h
  1. http://goo.gl/zMI7xP
  • http://goo.gl/3zKh9Y
  • http://goo.gl/tnmOhk
  • http://goo.gl/x7ydLT
  • http://goo.gl/Hsqo3J

You can also read ...

Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
The warnings come amid a period of financial uncertainty for the world.
US officials who helped the country survive the 2008 financial...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...
Africa Next Frontier for Crypto
Cryptocurrency is not bound by geography because it is...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...