Fixed Income

August 19, 2019
 

Ukraine’s sovereign Eurobonds got hammered last week due to external factors, declining in value for the second week in a row after their impressive performance in July. Information that the country’s GDP grew by 4.6% YoY in 2Q19 and exceeded expectations did not outweigh the general gloom on international markets amid a round of global growth worries. Ukraine’s economic growth in April-June was the fastest since 3Q16 when there was a strong recovery after the Donbass war of 2014-2015. Nevertheless, consumer and business sentiments in Ukraine are currently on the rise, giving grounds for an upbeat forecast for 2020 GDP growth.