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Hryvna’s exchange rate is near 10 marks. NBU Management is nervous. They say these jumps provoked inadequate political statements. NBU has already lost $ 10 billion of reserves for arte supporting. 27 billions have left. However, there is no any stability. Experts advise to oblige exporter’s sale export proceeds on interbank market but not sale the currency to elected ones. This just warms market and burns money in the fire of agiotage. ››››››
The main thing is that the financial crisis did not become a banking one, as it was in autumn 1998, - economists repeated last week. To prevent this, the state does not spare money. The three largest banks - Sberbank, VTB and Gazprombank - have been already given 1.12 trillion rubles ››››››
The President Viktor Yushchenko gave for Parliament considering draft law “About remarks to International Monetary Fund’s contract". The document is aimed on ratification of IMF resolutions in 2008 ››››››
The gold has reached maximum level. NBU fixed it at 7 620 UAH per ounce or 228,68 UAH per gram. The record mark had been reached after the yellow metal rose in price over $1000 in international markets not once the price will be below this point when speculators fix a profit. However, strategically the gold will rise in price, especially if the world crisis continues more than this year. Then during 12 months we watch new price achievements, minimum $1200 per ounce. ››››››
The Cabinet admitted there are problems with second credit tranche of International Monetary Fund (IMF) of $1,845 billion and said that to solve the situation the President and the Prime Minister have to sing special statement, which is blocked by Viktor Yushchenko. The Presidential Secretariat note that political statement is not the most important part of the Fund’s claims, which the government is not going to fulfill. IMF conceded that too. Experts say it becomes more and more possible that Ukraine will not get the tranche. ››››››
The confrontation on budget matters between Premier-Minister Yulia Timoshenko and Minister of Finance Viktor Pinzenyk finished yesterday by resignation of the latter. He said he does not see a sense to occupy the office of Minister of Finance any more. The Premier-Minister treated this as a sign of weakness in extreme conditions and has started selection of candidates for Mr. Pinzenyk replacement. A banker Sergiy Tigipko or the first Vice-premier Minister Alexander Turchinov can become a new Minister of Finance. ››››››
Unprecedented fall of import volume in December by 27,3% cause 2-times decrease of month deficiency of external goods turnover – by $720 million. Continuation of this tendency can lead to the effect that for the first time in three years the balance of trade can become positive. But experts expect that the rise in gas price will not allow to hold the good result for a long time – as a result of 2009 they predict negative balance of $2-5,5 billion. ››››››
International rating agencies estimate positions of some Ukrainian corporations at a pre-default level. It means that a company has minimum possibility to pay its bills and carry its financial commitments in time. According to experts’ estimates, every forth of fifth company, which has borrowed in the Western markets, can turn financially insolvent. Cheap sale of debts follows that. ››››››
Solvent borrowers, which agree to pay higher interest rates and commission despite the crisis, let the biggest banks to form reserves for covering bad loans in the Q4. Increasing operations profit by UAH 12,83 billion totally covered the growth of reserves of the biggest banks by UAH 12,31 billion. According to bankers’ the profit increase was supported by hryvna devaluation but in Q1 this factor will rig by the rise in bad debts. ››››››
Falling in price on construction market has not reached a bottom yet. For now it has just affected dollar prices. In American currency flats are twice cheaper. In hryvna, because of its depreciation, they are still expensive. Experts forecast: in two-three months the price in national currency will fall too. ››››››
