A Year After $18 Billion Debt Deal, Ukraine Is Hardly Better Off
- ‘Too much uncertainty’ to return to capital markets: Danske
- Bonds heading for worst month since February on Russia tension
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A year after Ukraine averted default by reaching an agreement with creditors to restructure $18 billion of debt, the country’s bond market is again beginning to veer off course.
After outperforming all of emerging Europe in the first seven months of the year, some of those gains unwound as a flare-up in tension with Russia over Crimea heightened security concerns. The selloff demonstrates the fragility of investor confidence as the country struggles to rebuild reserves amid a freeze in aid from the International Monetary Fund.