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Empire State Capital Partners Research: A big share of speculation laid behind the UAH leap on the eve of the October elections

November 03, 2015 | Cbonds

“A big share of speculation laid behind the UAH leap on the eve of the October elections. At the same time, considering that the elections were local ones, they should not induce any substantial wave at the center of the country. Overall, the Hryvnia exchange rate may remain unchanged for the time until the reception of the next tranche of financial assistance from international financial institutions, thereafter it may strengthen”.
The issue, however, is that the IMF will not extend the loan, until Ukraine ensures a balanced budget for 2016, which is less likely under the conditions of standoff between two concepts of fiscal reforms.
“The pressure of demand for foreign currency from the side of citizens will last, partly due to the start of compensation payments to clients of the latest wave of insolvent banks, first of all the “Finance and Credit” bank. However, this factor will be less accentuated, compared with the case for the depositors of the Delta Bank”, - states the expert.

Company: Empire State Capital Partners

Full company nameEmpire State Capital Partners
Country of riskUkraine
IndustryFinancial institutions

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