Ukraine’s President Signs Law on Foreign-Currency Domestic Debt

Ukrainian President Viktor Yanukovych signed a law allowing the sale of domestic government bonds denominated in foreign currencies to finance state budget deficit.

The Finance Ministry has failed to raise any funds for the state budget from selling bonds denominated in hryvnia since Nov. 18, according to its website.

The government has to repay $600 million in Eurobonds due this month.

To contact the reporters on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net;

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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