Dragon Capital writes

Dragon Capital writes: “Although the budget approval process could be accelerated, disbursement of the next IMF tranche will likely be delayed by several more months and may not even happen this year.” Concorde Capital’s Alexander Paraschiy writes: “Without the tranche’s approval, Ukraine’s end-2018 foreign currency reserves could be up to $4.8 billion below the National Bank’s plan and significantly below the key threshold of three months of imports.”