Thursday

28th Mar 2024

Ticker

Ukraine's default 'virtually 100%' certain

The Moody's rating agency downgraded Ukraine's rating on Wednesday (25 March) to Ca, the second-worst level. Moody's notes that the Ukrainian government plans "to restructure the majority of its outstanding Eurobonds". That means that the risk of "a default on government debt taking place is virtually 100%", writes Moody's.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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