Ukraine Braces for IMF Push to Devalue Currency, Cut Rates

Ukrainian officials are preparing for the International Monetary Fund this week to push it to devalue its currency faster, cut interest rates and strengthen its tax-raising efforts to fill the country’s budget gap, Bloomberg News reported. IMF staff visiting Kyiv are expected to pressure the war-torn country to pursue those steps to continue receiving financial support, as they undertake a scheduled review of a $15.6 billion loan program, Ukrainian officials with the knowledge of the topic said after preliminary discussions with the fund.
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Ukraine’s Bondholders Approve $20 Billion Debt Restructuring

Ukraine received widespread support from private creditors to restructure its overseas bonds, allowing the nation to secure much-needed debt relief to finance its fight against Russian aggression, Bloomberg News reported. The agreement more than two years after Russia’s invasion marks a swift resolution of the debt revamp following two rounds of negotiations in June and July, in which Kyiv asked bondholders to accept bigger losses than they initially aimed for.
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Ukrainian Railways: Court Decision Will Cause Our ‘Bankruptcy and Shutdown’

Despite all its recent freight growth and international expansion plans, Ukrainian Railways now finds itself in a problematic situation, railtech.com reported. The Ukrainian operator says that it is facing potential bankruptcy, after a number of companies have succeeded in annulling a 2021 rail tariff hike via a Kyiv court. Ukrainian Railways announces that it is now in troubled waters, according to a post on its Telegram channel. “Private companies using the courts are trying to reduce tariffs for themselves, which will cause the bankruptcy and shutdown of Ukrainian Railways,” it says.

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