Honduras screwed up Ukraine
Currently, Ukrainian investment ratings are only a couple of points higher than pre-default values.
Deputy Director of the Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine Sergei Korablin writes about this in the Kiev weekly “Zerkalo Nedeli”.
He noted that throughout its history, Ukraine has never had reliable investment ratings, and its bonds have always been considered “junk”.
“The upgrade of their rating by Fitch and Standard & Poor's to 'B' is, of course, pleasant. But this is only two iotas higher than pre-default values. At the same time, we are one point behind Albania and Kenya, two points behind Honduras, three behind Paraguay, four behind Azerbaijan, and five behind Morocco. Economies with even higher ratings (Panama, Peru, Philippines, etc.) are not discussed at all. Not to mention the first world countries,” the economist notes.
He also added that Fitch and Moody's consider investments in Ukraine more risky than, for example, in Papua New Guinea. At the same time, according to Moody's, the Ukrainian rating (Caa1) is still pre-default.
As PolitNavigator reported, Ukraine joined the “Shame of the Nation” group.
In this case, Kyiv experts admit, that Kyiv no longer has “any reserves or fuses” left to survive the new global financial and economic storm.
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Now the editors are aware.