Ukraine Vows to Curb Reserves Plunge as IMF Repeats Loan Demands - Bloomberg

Ukraine Vows to Curb Reserves Plunge as IMF Repeats Loan Demands - Bloomberg:

"Ukraine pledged to stem declines in its foreign reserves next year as the International Monetary Fund said it wouldn’t ease conditions for a new loan amid a third recession since 2008.
Borrowing will match or exceed the planned $7.1 billion of foreign-denominated debt repayments, Halyna Pakhachuk, head of the Finance Ministry’s department debt, said today at a Fitch Ratings conference in the capital, Kiev. If markets improve, Ukraine may sell $1 billion to $2 billion of Eurobonds in 2014 and may borrow as much as $1 billion from China, she said.
“It’s difficult for Ukraine to tap international markets now as yields exceed 10 percent, while we can borrow at no more than 9 percent,” Pakhachuk said. “That’s why we’re looking for other sources of financing.”"

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