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Concorde Capital brokerage, said in a research note. "It even submitted the legislation for its Investment Nanny project to parliament this week."
"Yet, corporate executives understand that these nannies are likely to face just as many difficulties as their own employees, and especially their lawyers, when dealing with the Ukrainian bureaucracy and courts," he went on to say. "We agree with the conclusions reached by Ukraine’s CEOs and expect rough investment conditions in the next few years.”
2.9​ ​NBU lionize Smolii, give details on Eurobond cancellation
The National Bank of Ukraine (NBU) was in damage control mode on July 3 as it lionized its departing governor Yakiv Smolii and more details of why a planned issue of a 12-year $1.75bn​ ​Eurobond was immediately cancelled​ on the news was released.
Smolii is widely respected by investors and Ukraine’s donors. Not only is credited with prudent monetary policy that has seen Ukraine’s inflation rate come down from over 60% when he joined the bank in 2014 to 1.7% in May, he has also successfully managed the recent crisis and even increased the central banks reserves to just over $28bn during the crisis months.
Smolii unexpectedly quit on June 2​ citing “systemic political pressure” as the reason for his departure, a clear allusion to the running battle the regulator has been fighting against oligarch Ihor Kolomoisky for control of PrivatBank.​ ​The NBU has branded attacks on its staff and former NBU governor Valeriya Gontareva has a “terror” campaign​ and named Kolomoisky as orchestrating the campaign.
Without Smolii’s leadership the independence of the NBU is now in doubt and investors and donors are waiting to see who will replace him. In these conditions issuing a Eurobond is impossible.
14​ UKRAINE Country Report​ July 2020 ​ ​www.intellinews.com