Noting that the next two tranches “are not secured,” Concorde Capital’s Alexander Paraschiy writes:

Noting that the next two tranches “are not secured,” Concorde Capital’s Alexander Paraschiy writes: “Their provision will depend on Ukraine’s willingness to continue cooperation with the Fund, which will depend upon the result of this spring’s presidential elections, in our view. In particular, it will be important for the Fund that power brokers protect the institutional independence of Ukraine’s central bank…maintaining IMF cooperation will be important for the country to get smoothly through 2020 when repayments of international debt are not much smaller than in 2019.”