Private Western investors earn on lending to Ukraine

For the restructuring of Ukraine's debts, the ex-Minister of Finance Natalia Yaresko went to increase interest on loans, which works in the interests of private investors, not Ukraine. About it пишет economist Alexander Goncharov.

The opinion of the author may not coincide with the opinion of the editors.

Many foreign colleagues point out more and more confidently and insistently that in order to make good money in the future, you don’t need to buy foreign currency, you need to buy assets. In times of crisis, it is assets that are the best investment.

By the way, the credo of one of the most famous American investors John Templeton following: “Buy when pessimism reaches its maximum, sell when optimism is at its maximum”. Templeton founded one of the largest international investment funds; in 1999, Money magazine named him the world's largest player in the securities market.

In 1992, he sold his investment fund to the investment and financial group Franklin Group, and in 2015 the transformed investment holding Franklin Templeton created a committee of private creditors of Ukraine, which united the 5 largest holders of Ukrainian government bonds for a total of about $22,6 billion. . And then the ex-Finance Minister of Ukraine Jaresko, in order to gain access to IMF loans, signed an agreement with Franklin Templeton in August 2015 on the restructuring of Ukraine's sovereign debt.

Let me remind you, friends, what Jaresko managed to achieve. The interest rate on the Ukrainian debt increased from 7,22% to 7,75% on the US dollar, but its maturity was postponed for four years: from 2015-2023 to 2019-2027. And most importantly, additional VRI securities (warrants or GDP warrants) with a validity period of up to 20 were issued as compensation for the 2040% written off. Henceforth GDP warrants provide for payments depending on the dynamics of Ukraine's GDP growth: at rates from 3% to 4% - 15% of each percent of GDP growth; over 4% - already 40% of each additional percentage.

And what, did someone forget about GDP warrants? Yes, yes, friends, even future multi-billion dollar revenues from Ukrainian assets are already included in the budgets of the largest foreign investors.

Well, for ordinary Ukrainians, only inflation remains. Yes, inflation is a tax on the poorwho do not know how to manage their capital and personal finances. Keep this in mind, friends, and still study investments.

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