The International Monetary Fund (IMF) on June 11 published a letter of intent and a memorandum of economic and financial policy signed by the president, the prime minister, the Minister of Finance and the governor of the National Bank of Ukraine (NBU) as part of the request for a new 18-month Stand-By Arrangement for SDR3.6 billion ($5 billion), satisfied by the fund on June 9.
According to the published materials, after the issue of the first tranche of SDR1.5 billion ($2.1 billion), four program reviews are planned – based on the results of June, September and December of this year, as well as June 2021 with the completion of these revisions on September 1 and December 1 this year and May 15 and October 15 next year.
It is assumed that following two reviews this year, Ukraine will be able to receive another SDR500 million, and following two reviews next year a total of another SDR1.1 billion ($1.5 billion).
President of Ukraine International Airlines (UIA) Yevhen Dykhne does not see any reasons for airlines to raise airfare at the initial stage of lockdown ending.
During the press conference on Saturday, June 13, the video of which is available on the page of Boryspil International Airport, he said that all airlines today have excess resources, and at the same time very low demand is expected for their services, which will be compensated by all possible means.
“Therefore, it is absolutely logical that all instruments, including low prices, will be included in the fight against excess resources between companies for low demand and low passenger numbers. Due to this, insinuating that the additional costs of airlines and airports will somehow affect the airfare, in my opinion, is not justified. Today, the airfare is defined by the market’s supply-demand situation. Thus, I think that aviation will start operation from very low prices, affordable flights at a loss,” Dykhne said.
He also said that UIA communicates with all passengers who bought tickets for the airline’s flights, considering options for transferring flight dates, compensation using a voucher, or refund.
Official rates of banking metals from national bank as of June 15
One troy ounce=31.10 grams
National bank of Ukraine’s official rates as of 15/06/20
Source: National Bank of Ukraine
Moody’s Investors Service has upgraded the Government of Ukraine’s long-term issuer and senior unsecured ratings to B3 from Caa1. The outlook on the ratings is stable, Moody’s said in a report.
According to the report, the main driver of the decision to upgrade the ratings to B3 is the easing of Ukraine’s near-term funding challenges and the safeguards afforded to recent improvements in its external vulnerability as a result of the announced new financing programme with the International Monetary Fund (IMF)
The decision to upgrade the ratings also reflects Moody’s expectation that the new IMF programme will help anchor the reform progress achieved in recent years, Moody’s said.
Head of the Specialized Anti-Corruption Prosecutor’s Office (SAPO) Nazar Kholodnytsky has said that former U.S. Vice President Joe Biden and his son Hunter are not involved in the case of offering a bribe to the top officials of anti-corruption bodies for closing the episode, which involves former ecology minister Mykola Zlochevsky.
During a briefing on Saturday, asked about whether Hunter Biden is involved in the bribe criminal proceedings, since he is directly connected with Zlochevsky and Burisma Holdings, Kholodnytsky said: “Let’s put an end to this once and for all. Biden Jr. and Biden Sr. do not appear in this particular proceeding.”
Director of the National Anti-Corruption Bureau (NABU) Artem Sytnyk said that the bribe was offered for closing the episode regarding the stabilization loan, which was issued by the National Bank to Real Bank associated with Serhiy Kurchenko.
“Let’s not turn this matter into a political subtext,” Sytnyk said.
