Ukraine is looking into methods to expand a domestic bond issuance programme to foreign capital markets in order to support its defence activities, source familiar with the issue reported.
Late in February, Kyiv began selling hryvnia-denominated notes called ‘war bonds’ to gather funds for its anti-Russian campaign. The government stated that its domestic programme would raise roughly $1.36 billion.
According to the source, Ukraine’s government now hopes to introduce an international fixed income instrument in the next months, which would most likely be denominated in US dollars.
‘The support that Ukraine has received not only from official creditors but also from the larger Ukrainian diaspora and foreign regulatory authorities has been encouraging,’ the source stated.
‘The goal is to expand its present domestic bond programme to an international audience,’ the source said, adding that the government hoped to gather as much money as it could, maybe ‘hundreds of millions of dollars.’
‘Not only from official creditors, but also from the greater Ukrainian diaspora and international regulatory bodies, Ukraine has received encouraging backing,’ the source spoke to Reuters under the condition of anonymity.
India was helped out of a 1991 balance of payments crisis by diaspora money, which raised $4.2 billion in 1998 to compensate for international penalties imposed following nuclear tests.
Since the Russian invasion began, Ukraine has received donations in cash and cryptocurrency, the majority of which has come from the country’s enormous diaspora.
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