The IMF announced overnight that it had reached staff-level agreement (SLA) on a new programme for Ukraine, an 18-month Standby Arrangement (SBA) amounting to cUS$5bn (180% of quota). Board approval is expected in coming weeks (we suspect by mid-June...

Marc Rich, the infamous commodity trader, amassed a fortune despite facing extradition charges. He spent much of his life in exile in Switzerland. The US authorities charged him with racketeering and tax evasion. Rich started a commodity trader that...

WH Group (288 HK), the world’s largest pork producer, closed several of its US pork processing plants this week even as the coronavirus threatens to escalate food prices further. WH Group has revenue of over US$24bn and dominates pork productio...

Restructuring comes out of the blue. On 27 Mar 2020, DTEK Energy announced that it will not pay interest on bank debt and its US$1.3bn 10.75% amortising bonds on 31 Mar 2020 and 1 Apr 2020, respectively. The company is working on a standstill agreeme...

IMF Managing Director Kristalina Georgieva issued a short statement last night on the status of programme negotiations with Ukraine. She noted "very good progress" on the discussions on a new EFF and appeared to confirm what...

Ukraine looks to have become the latest country seeking to tap funds from the IMF’s emergency financing facilities to help countries deal with the coronavirus pandemic that was announced earlier this month, according to local media yesterday ci...