With the Democrats returning to power in the White House

With the Democrats returning to power in the White House, David Arakhamia, head of the Servant of the People Rada faction, hopes that Joe Biden will resume an Obama era practice of extending US guarantees to $1 billion in Ukrainian 5-year Eurobonds. The Obama Administration did this three times at the height of Ukraine’s post-Maidan financial crisis – in May, 2014, in May, 2015 and on Sept. 23, 2016, just before the election that brought in Donald Trump. With the US guarantee, the last bond carried the lowest rate in Ukraine’s history — 1.471%. With Ukraine’s reserves recovering the Trump Administration refused to refinance the first two issues. They were repaid in full.