Ukraine appeals to IMF for $2bn emergency loan

Ukraine has made an urgent appeal to the International Monetary Fund for about $2bn in emergency loans to ease “an extremely difficult situation” in meeting its external obligations and avoid the danger of a “spill-over effect” on other economically vulnerable states.

“The next three months are crucial,” Hryhoriy Nemyria, Ukraine’s deputy prime minister, told the Financial Times one day after returning from a mission to the IMF’s headquarters in Washington.

http://www.ft.com/cms/s/0/5391502c-e650-11de-bcbe-00144feab49a.html

Green shoots...

 

Yes, but Retail Sales beat, so who cares?

I hadn't heard anything about this on my squawk - I guess this stuff doesn't matter anymore. It all went Dubai-bye with the last crisis.

 

Speaking of Ukraine:

It was the best performing market over the last decade......

Shares of Ukraine’s stock market surged almost 1500 percent, the biggest jump among the 73 country indices tracked by Bespoke Investment Group. Romania and Venezuela were other top performers.

10-Yr % Change
Ukraine 1,445%
Romania 924%
Venezuela 893%
Bangladesh 806%
Source: Bespoke

 

Why would you expect economic troubles in Ukraine to affect the S&P? Retail sales numbers are way more important than a $2 billion dollar IMF loan to Ukraine...US retail sales likely provides more economic activity than the entire Ukraine economy put together.

 

I consider this news noteworthy.

 

Surely not as much gain as Zimbabwe..

 

"The fundamentals of the economy are strong". /sarcasm/

 

How much would there be left of those gains converted in $ currency when taking devaluation into account ?

 

?.....Let's see, the total capitalization of those markets is 100-million dollars?

 

ROTFL.