Ukrainian Journal

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FRIDAY, MARCH 6, 2015

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Creditors organize ahead of restructuring
NEW YORK, March 5 - Boutique investment firm Rothschild has invited investors to organize into a Ukraine creditor group ahead of a sovereign debt restructuring, sources directly familiar with the situation told Reuters. 12:37 | More

Gas cut averted as Gazprom receives $15 million payment from Naftogaz
MOSCOW, March 5 - Russian gas exporter Gazprom said on Thursday it had received a $15 million prepayment from Ukrainian state energy firm Naftogaz, averting a possible cut in supply, at least for a few days, Reuters reported. 12:36 | More

NBU boosts restrictive measures intended to stabilize hryvnia
KIEV, March 5 – The National Bank of Ukraine has increased its restrictive measures to stabilize the hryvnia exchange rate, in particular, by banning the withdrawal of dividends from the country and restricting the purchase of foreign currency on the domestic market by banks and their clients. 12:35 | More

President Petro Poroshenko emphasizes the need for moving to an active phase in the implementation of reforms. "I hope that we are moving from talks, presentations and agitation for reforms to concrete legislative amendments and implementation of reforms awaited by the public and the world, which is capable of providing real support to us," the Head of State noted at the meeting of the National Council of Reforms. (Photo by the president's press service)

US leadership pushing Congress for Ukraine $1 billion loan guarantee
KIEV, March 5 – The U.S. leadership will consider providing an additional loan guarantee for Ukraine of up to $1 billion in late 2015, U.S. Assistant Secretary of State for European and Eurasian Affairs Victoria Nuland said. 12:34 | More

IN FOCUS	Tens of thousands join protest in Moscow MOSCOW, March 1 - Tens of thousands of Russians marched through central Moscow on Sunday, carrying banners declaring "I am not afraid" and chanting "Russia without Putin" in memory of murdered Kremlin critic Boris Nemtsov, Reuters reported. 13:17 \| More
NBU to increase refinancing rate to 30% KIEV, March 3 - Ukraine's central bank will raise its benchmark refinancing rate to 30 percent from 19.5 percent, the head of the central bank said on Tuesday, seeking to rein in rocketing inflation and stem persistent currency weakness, Reuters reported. 19:51 \| More

COMMENT AND ANALYSIS

Ukraine economy could fall 6% this year, according to official Ukraine's GDP will register a 3% decline for H1 and could fall 6% this year, First Deputy Economic Development and Trade Minister Anatoliy Maksiuta said at a briefing in Kiev. He said that inflation this year could accelerate to 19%.More	Ukraine's economic decline accelerating Ukraine's economic decline has accelerated as fighting between the army and pro-Russian separatists in the east took a heavy toll on industry and other economic activity in the last three months, Reuters reported.More
Hryvnia won't tank further this year, according to trade minister Ukraine's Ministry of Economic Development and Trade is not expecting the further devaluation of the hryvnia and an increase in the rate of inflation growth in the current year, Minister Pavlo Sheremeta has said at a briefing in Kiev.More	1938 Sudetenland vs. 2014 Ukraine; West must act now The West must not ignore Russia's ongoing attack on Ukraine because inaction will create a monster that will be able to destroy the Western civilization. Look at Germany's annexation of Sudetenland in 1938 for parallels.More