Fixed Income

September 03, 2019

Ukrainian sovereigns appreciated in value after the newly-elected Parliament voted on Aug 29 to approve the new prime minister and the Cabinet. The new government includes only 17 ministers, as opposed to 25 ministers that served in the outgoing Cabinet led by Volodymir Groysman. Several ministries were disbanded and merged with others, such as the Agriculture Ministry, the Sports Ministry, and the Ministry of Occupied Territories. New Prime Minister Oleksiy Honcharuk has already announced that an IMF mission is expected to arrive in the coming weeks for discussion of a new 3-4 year cooperation program. When Honcharuk spoke to Parliament, he promised to move quickly to ensure economic growth of 5-7%, and said the first 37 bills that are necessary for economic liberalization have already been drafted.