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

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza