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Macro Snapshot - BoP data indicate high debt rollover ratios
National bank of Ukraine published preliminary figures on 1Q balance of payments. Total BoP deficit (C/A+F/A) landed at -$5.2 bn., but also showed significant improvement in Mar (-$1.3 bn) vs Feb (-$2.1 bn). Albeit this enhancement may prove to be short-lived, high debt rollover ratios recorded in 1Q2009 are encouraging.
See attachment for full report…