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Weekly Risk Export Outlook, May 7
05.08.2014
Portugal decided to end the three-year agreement with the International Monetary Fund without requesting any additional credit line from the IMF or the European Union, almost at the same time when Ukraine is close to draw the first tranche of a $17 billion loan, Euler Hermes said in this week’s Export Risk Outlook.
The report noted that additional funding of around $15 billion from the World Bank, the EU, Japan and Canada will be available for Ukraine following its arrangement with the IMF. The agreement will reduce the risk of immediate economic collapse, Euler Hermes analysts noted.
On the other hand, Portugal exits its bailout program following strong demand for its treasury bonds at declining interest rates, which will allow the Portuguese government to support its financing needs through issuances on the bond market, Euler Hermes’ analysis showed.
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