Rus News Journal

Fitch has confirmed sovereign ratings of Ukraine at level B

the International rating agency Fitch Ratings has confirmed sovereign long-term ratings of a default of the emitter of Ukraine in foreign and national currency at level B and stable the forecast on them. Short-term sovereign ratings of the country and a sovereign credit limit also have been confirmed at level In, is told in the agency message.
despite confident start in realisation of the reforms provided by conditions of the demand line of credit of IMF, financial and economic stability of the country is under the influence of the same risks, as in July 2010., when rating RDE has been raised. For this reason now the further increase of sovereign ratings of Ukraine is impossible - the head of division Fitch of sovereign ratings David Heslam marks.
the Special anxiety of rating agency is caused by the short-term risks connected with bank system loosened during financial crisis, high level of an external debt and considerable budgetary deficiency.
Fitch also has presented the forecast on growth of real gross national product of Ukraine following the results of 2010. By agency calculations, this indicator will make 5 %, whereas in 2009. It was reduced to 15,1 %. However analysts specify that Ukraine keeps the dependence on external demand and the prices for raw materials, and the situation is aggravated with that factor that the forecast of stability of the basic Ukrainian markets of export remains not clear.
experts of IMF also notice that the potential of growth of the country was appreciably reduced as a result of last economic crisis and has stopped on a mark approximately 2,6 % whereas before crisis it it was estimated more than in 6 %.
In August 2010. Ukraine has received from the International currency fund the first tranche of the credit at a rate of 1,89 mlrd dollars. Means have been given under the program stand - by 15,15 mlrd dollars Confirmed by IMF in the end of July the new program of credit support of Ukraine for the sum 15,15 mlrd dollars is calculated on a total sum for 2,5 years. On agreement conditions, Ukraine by next year should reduce a budgeted deficit to 3,5 % from gross national product and to 2,5 % - to 2012. The agreement also provides re-structuring NAK Petrogas of Ukraine and rekapitalizatsiju banks by the end 2010., and also working out reliable credit - the monetary policy Natsbank of Ukraine.
Ukraine is in number of the countries, is the strongest suffered from world financial crisis. Last year falling of Ukrainian gross national product has made 15 % that is the greatest decrease since the industrial collapse which has followed disintegration of Soviet Union in 1991.
Cooperation of Ukraine with IMF stopped twice after the country was not able to cut down the governmental expenses that was one of key requirements to Kiev at rendering of the financial help.