Fitch affirms Ukraine’s rating at restricted default level

Fitch affirms Ukraine’s rating at restricted default level

Kyiv: Fitch credit rating agency on Friday affirmed Ukraine’s long-term foreign currency sovereign credit rating at ‘RD’ (restricted default) as its war with Russia drags past the 33-month mark. The agency also affirmed the sovereign’s ‘CCC+’ long-term local currency amid the ongoing debt restructuring, aimed at easing its wartime financial pressures. President Volodymyr Zelenskyy, in … Read more

Ukraine, IMF agree on $15.6 billion loan package

Ukraine, IMF agree on .6 billion loan package

The International Monetary Fund logo. The Ukraine Finance Ministry and IMF on March 22 agreed on a loan package to help mobilise financial support for Ukraine in light of the Russian invasion. | Photo Credit: Reuters Ukraine and the International Monetary Fund have agreed on a $15.6 billion loan package aimed at shoring up government … Read more

Ukraine’s war-torn economy will sink 35% in 2022: World Bank

Ukraine’s war-torn economy will sink 35% in 2022: World Bank

Russian economy, hammered by Western sanctions, is expected to shrink both years — by 4.5% in 2022 and 3.6% next year Russian economy, hammered by Western sanctions, is expected to shrink both years — by 4.5% in 2022 and 3.6% next year Devastated by Russia’s invasion eight months ago, the Ukrainian economy will plunge 35% … Read more