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Yesterday the Finance Ministry sold $285 million worth of bonds, 21% less than the previous week.

The sale covered half of UAH 15.6 billion in principal repayments due today. Interest rates on all six bonds were unchanged from the previous week, the Ministry reported. They ranged from 10.99% for 1-year hryvnia bonds to 12.59% for 5-year hryvnia bonds. The Ministry also sold €8 million worth of 1-year Euro bonds at 2.5%. Demand may have been weak as investors were waiting for tomorrow’s meeting of the central bank’s rate setting board.

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Predicting a cool Ukrainian reception, Timothy Ash wrote: