| ID | 132127 |
| Title Proper | Taper trouble |
| Other Title Information | the international consequences of fed policy |
| Language | ENG |
| Author | Steil, Benn |
| Publication | 2014. |
| Summary / Abstract (Note) | In April 2013, Ukraine was sporting a massive current account deficit of eight percent, and it badly needed dollars to pay for vital imports. Yet on April 10, President Viktor Yanukovych's government rejected terms set by the International Monetary Fund (IMF) for a $15 billion financial assistance package, choosing instead to continue financing the gap between its domestic production and its much higher consumption by borrowing dollars privately from abroad. So a week later, Kiev issued a ten-year, $1.25 billion eurobond, which cash-flush foreign investors gobbled up at a 7.5 percent yield. |
| `In' analytical Note | Foreign Affairs Vol.93, No.4; July-August 2014: p.54-61 |
| Journal Source | Foreign Affairs Vol.93, No.4; July-August 2014: p.54-61 |
| Key Words | Fed Policy ; Massive Current Account ; Financial Assistance ; Monetary Policy ; Foreign Direct Investment - FDI ; Economic Policy ; Financial Aid ; International Monetary Fund - IMF ; Global Economy ; Ukraine's Economic Policy ; US's Economic Policy ; Economic Leadership ; Global Financial Architecture - GFA ; International Organization - IO ; Currency War |