“Ukraine local bonds are back,”

“Ukraine local bonds are back,” headlines a story in BNEIntellinews. “Despite the political brouhaha that never ends in Ukraine, the macroeconomic situation has improved enormously in the last two years,” Ben Aris writes from Berlin. “Inflation has fallen to post-Soviet lows, forex reserves have risen to give 4.4 months of import cover (a comfortable level), the banking sector is healthy, and Ukraine ran a large trade surplus in 2020…Focusing just on the economic arguments, the outlook for Ukraine’s local bond market looks very attractive. It compares very well with its frontier and emerging market peers.”