Ukrainian bonds are slumping to record lows after FT reported that the International Monetary Fund is concerned the country's bailout program is unraveling, and will need another $15bn within weeks to avoid a financial collapse.
With Western willingness to add such a sum extremely doubtful, investors are concerned that they will have to pay the cost via a debt restructuring, and have sent the price of the country's government bond sliding.
The $2.6bn bond due in 2017 slumped to just 70.8 cents on the dollar, for a record annual yield of 25.09 per cent, while the next bond to mature – a smaller $500m security due next September – fell to 80.9 cents on the dollar, or a yield of 37.05 per cent.
some people are going to be unpopular.
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