“Ukraine’s Cabinet and the Kiev administration will further take steps to ensure Kiev city’s budget has enough funds to hold an efficient debt policy,” Kopylov said today in a statement, e-mailed by the ministry press office today. Kiev’s 2011 dollar bonds rose to 96 cents on the dollar, the highest since July 2, pushing the yield down to 13.016 percent, Bloomberg data shows.
Kiev is likely to restructure principal of its $200 million of notes due 2011 and $250 million of bonds due 2012, while continuing to meet interest payments, said an unidentified official in the city’s administration on July 5.
Of course the
central government won't let Kyiv go belly-up. Kyiv's supposed to host the Euro 2012 it still needs to finish financing and renovating/constructing for the tournament. But will they try to push out the mayor and put someone they trust in office?
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