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government is to spend EUR 202mn for the redemption and servicing of local Eurobonds. The government is likely to compensate these outlays with receipts from local Eurobond placements. In case the supply and demand at Ukraine’s ForEx balances out, we are not likely to see significant changes in international reserves at the end of November.
5.3​ FDI
Wind and solar investments account for one quarter of the €49bn of foreign direct investment in Ukraine since Independence in 1991. However, €660mn in unpaid electricity bills is forcing foreign investors to renegotiate bank loans, mull bankruptcy and to pursue international litigation against Ukraine, participants told an Energy Talk webinar organized last week by the European Business Association. One Norwegian company, Scatec, is preparing litigation against Ukraine in London.
39​ UKRAINE Country Report​ December 2020 ​ ​www.intellinews.com