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Weekly Lists
March 17, 2017 www.intellinews.com I Page 24
bne:Credit
IMF to allocate new tranche to Ukraine by March 25, Kyiv says
Poland places dual debt issue totalling €1.5bn
A new tranche from the International Monetary Fund (IMF) under the multinational lender's $17.5bn support programme agreed in 2015 will arrive within ten days, Ukrainian Finance Minister Olek- sandr Danylyuk said on March 16.
According to the official, the executive board of the IMF, Ukraine's main creditor, will consider the programme's review on March 20, "and we are expecting the tranche next week, which is very posi- tive". The board will decide on issuing a fourth loan tranche of $1bn under the aid package.
Poland sold €1.5bn in euro-denominated bonds to investors, mostly in Western Europe, the finance ministry announced on March 16.
Warsaw issued €1bn in 10-year bonds maturing in October 2027 at 55bp over mid-swaps with an annual coupon of 1.375%. The yield came in at 1.471%, tighter than the 1.542% achieved on a similar issue in January 2016.
Poland also launched a €500mn tap of its existing January 2036 notes at 83bp over mid-swaps, with an annual coupon of 2.375%. The yield comes out at 2.198%, the ministry said.
The Czech current account recorded a huge surplus of CZK29.4bn (€1.09bn) in January, the Czech National Bank reported on March 16.
The reading was a sharp rebound compared with the deficit of CZK22bn produced in December, albeit 2016 still saw a record high cumulative excess of CZK73bn, or 1.6% of GDP, driven by a strong surplus on the goods account. However, the balance is expected
to deteriorate this year as increased investment provokes a rise in imports, and investors seek to cash in huge positions built up in expectation of a jump in the value of the koruna.
Czech current account returns to surplus in January