Sovereign debt increase up to Parliament

Обзор облигаций 27.11.2014 The Cabinet of Ministers approved the draft of changes to the state budget bill which will increase the debt ceiling at the end of the year by UAH161.39bn to UAH968.35bn. Because of the significant local currency devaluation since the ceiling was took effect, the volume of new borrowings and redemptions will be increased. Investment implications: The approved changes await approval by Parliament. While no procedure are provided as to how the MoF will raise sufficient funds, these changes are required to avoid breaking the ceiling from the previously approved state budget.