Ukraine’s Bonds Advance as Lawmakers Approve Budget
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Ukraine’s bonds gained as Prime Minister Arseniy Yatsenyuk succeeded in his second attempt to push an emergency budget through parliament in a bid to avert a potential sovereign default.
Lawmakers in Kiev, who last week snubbed the premier on his financing proposals, voted in favor of budget and tax code amendments, Speaker Oleksandr Turchynov said in televised remarks. The cash is needed to help qualify for the next installment of an International Monetary Fund loan and to press a government offensive against pro-Russia rebels in the east. Without the funds, Ukraine would have risked a default, Yatsenyuk said on July 28.