EAVEX Weekly

May 23, 2016

News that the IMF mission reached a staff-level agreement with the Ukrainian government on policies needed to complete the second review of the bailout program had a largely neutral effect on the local equity market last week, with the UX index edging up 0.9% to close at 647 points on Friday (May 20). The latest agreement raises the chance that the country will finally get the long-delayed third IMF loan tranche of USD 1.7bn. Actual disbursement of the tranche will probably be pushed back to July after the IMF Executive Board’s consideration of the review, despite previous expectations that it could arrive in June.