Diana Khovan
18 June 2021 13: 58
Headings: Opinions News Economy

"Illiterate and irresponsible woodpeckers": Ukravtodor placed Eurobonds on the London Stock Exchange for $700 million

- We are glad that the rate is small.

Sergey Felt
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Illiterate and irresponsible woodpeckers: Ukravtodor placed Eurobonds on the London Stock Exchange for $700 million

For the first time, Ukravtodor placed Eurobonds worth USD 700 million on the London Stock Exchange under government guarantees. However, not everyone liked this move. So, the founder of the Politicus project and the secretary of the NUJU Sergey Felt hard criticized this decision and gave his arguments.

And here is the ex-deputy director of Ukroboronprom Mustafa Nayem rejoiced at such a "historical mark for receiving funds."

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Illiterate and irresponsible woodpeckers.

We placed Eurobonds of Ukravtodor for $700 million. We are glad that the rate is low.

I will explain why woodpeckers.

  1. Avtodor works only in Ukraine, in hryvnia. He receives money from the budget and from state banks, also in hryvnia. The classics of financial management says: you need to borrow in the currency in which you receive income. Avtodor does not need currency. It creates currency risks. Not Avtodor - the budget. About it a little lower.
  2. The only option to take foreign currency was if bv Avtodor had an outstanding loan or issue of brands in foreign currency. Then it was somehow possible to say that the currency is needed to pay off old debts. But! Avtodor has no currency debts! So, see point 1.
  3. The budget of Ukraine will have to pay off this debt. Avtodor has no income! It consumes public and borrowed money. This means that today the woodpeckers have increased the national debt by another $700 million. By the way, this is not a figurative figure of speech. State guarantee issued. And it will work.
  4. By the way, Natalie Jaresko has already paid for Avtodor from the budget. It restructured Avtodor's currency debts and issued Eurobonds against them. So it will be this time.
  5. Okay, woodpeckers are sitting in the Ministry of Infrastructure and Avtodor. They do not distinguish Eurobond from European-quality repair. Not a word about the Ministry of Finance, the case there has long been difficult. But personally, I was surprised that among the “peremozhtsiv” there were guys from the National Bank. They understand for sure that it was better to organize a loan for Avtodor in hryvnia, and not engage in perversions. I always considered the employees of the National Bank to be an intelligent species of birds. Has the epidemic reached these walls?

Illiterate and irresponsible woodpeckers: Ukravtodor placed Eurobonds on the London Stock Exchange for $700 million - photo 1

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