Azerbaijan: Fitch to upgrade IBA’s ratings

Fitch Ratings, the international ratings agency, said that it had withdrawn International Bank of Azerbaijan’s (IBA) $500 million senior unsecured notes following the completion of the bank’s debt restructuring and the settling of the issue on September 1. The agency has not yet rated the new $1 billion senior notes due 2024 issued in part…

Ukraine: state debt up in July 2017

The total state (direct) and government-guaranteed debt of Ukraine in July increased by 1.4% or by $1.05 billion, to $76.06 billion, the Ministry of Finance said on its website. The state debt in the national currency rose by 0.69% or by UAH 13.45 billion, to UAH 1.971 trillion. Since the beginning of the year the…

Ukraine: 37.5 million tons of grains harvested

As of September 4, Ukraine harvested 37.537 million tons of grains (including corn) throughout the areas of 9.794 million ha (67% of the plan). The average yield totaled 3.83 ton/ha, the Ministry of Agrarian Policy and Food of Ukraine declared. In particular, agrarians harvested buckwheat throughout 59 thousand ha (32%), and produced 67 thousand tons…

Latvia: Border Guard to procure new helicopters

Latvian State Border Guard currently evaluates offers for procurement of new helicopters. The country’s National Armed Forces, one the other hand, has no plans to procure new helicopters in the near future. Until then, old helicopters will be kept repaired and in battle-ready condition, according to available information. It should be noted that Latvia currently…

Ukraine: cost of introducing e-ticket in land transport in Kyiv stands at UAH 460 million

Municipal enterprise Kyivpastrans has announced a tender for the purchase of electronic equipment, namely technical means of automated payment systems (APS) with software and its installation. According to the announcement on the ProZorro electronic trading platform, the deadline for submitting documents for the tender is September 18, the auction will be held at 11:30 on…

Estonia: bad weather disrupts ferry services

Linda Line, which operates the high-speed catamaran Karolin between Tallinn and Helsinki, has canceled all September 4 departures from both capital cities due to bad weather conditions on the Gulf of Finland. Linda Line, which operates under the Linda Line Express brand, has a policy of canceling departures due to conditions involving wind speeds in…

Ukraine: economy ministry names major donors

Ukraine in the first half of 2017 implemented 415 international technical assistance projects worth a total of $5.32 billion, the press service of the Ministry of Economic Development and Trade reported. The major donors of technical assistance remained the U.S. with 104 projects worth $1.5 billion, the European Bank for Reconstruction and Development with 39…

Estonia: economy not about to overheat

Estonia continued to be a net saver, and the country’s economy was not about to overheat, Tonu Palm, chief economist at Nordea, said in his comments on the reported 5.7% GDP growth. “The economy’s rapid growth stems from a low reference base in a situation where there has been underinvestment for years. Loan growth is…

Latvia: GDP up in Q2 2017

Compared to Q1 Latvia’s gross domestic product at constant prices increased by 1.2% in Q2. Compared to the corresponding period of 2016, in Q2 the GDP grew by 4% according to seasonally and calendar non-adjusted data and by 4.8% according to adjusted data. In Q2, the GDP amounted to 6.8 billion euros at current prices…

Belarus: trade with Vietnam up in H1 2017

Belarus-Vietnam trade increased almost by one third in H1, Vietnam’s Ambassador to Belarus Le Anh announced. “Over the six months of 2017 the bilateral trade grew by 29.8% YoY. We have another six months to increase the figures. There are prospects to reach great results by the end of the year,” said Le Anh. According…