Timothy Ash writes from London: “
Timothy Ash writes from London: “The government failed to make a decision on the gas price problem, just kicked the can to Sept 1, arguing for no gas price hikes before then. The Ministry of Finance cash balance is now running perilously low, while Ukraine is going into a less supportive foreign exchange environment due to seasonals. With elections coming up, typically FX purchases increase. It should not be like this – we should not be questioning whether the MOF has enough cash to pay pensions.” Last week, the funds balance in the State Treasury fellow below UAH 2 billion, the lowest level since January 2014.