Ukrainian Central Banker Dimisses Default Fears

The central bank governor of Ukraine has dismissed fears of a default, even as she predicted the economy could contract as much as 10 percent and the country is said to be facing a Greek-style debt controversy.
The Ukrainian economy has deteriorated dramatically this year as tensions with Russia have flared and the currency has continued a free fall against the dollar, but Ukraine central bank governor Valeria Gontareva said the country would not need further bailouts.

“Unfortunately right now because of really drastic deterioration of economic conditions I suppose that we will revise the program and I suppose that it could be even minus 9, or even 10,” Gontareva told CNBC.

“It will be maybe some small adjustment, not necessarily to take any serious steps in changes of the (IMF) program,” she said.

via CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.