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As Ukraine And Hungary Accept IMF Loans, Will Poland Be Next?
Edward Hugh (October 28th, 2008) Writes:
by Edward Hugh: Barcelona
Yesterday, the Ukraine received a USD16.5bn loan from the IMF and the IMF at the same time said that it would agree with the Hungarian government on a rescue package in the coming days. Under normally circumstances this would be good news for CEE assets. However, it seems like the markets are totally giving up on CEE. This morning the Hungarian stock markets have dropped more than 10% despite the promise of an IMF package.
......it is worrying that the CEE markets continue to sell-off despite IMF’s clear commitment to support the region’s markets and economies. One might in fact see the lack of positive response to IMF’s rescue packages for Hungary and the Ukraine as an indication that these packages are in fact making the markets even more nervous that something “is seriously wrong in CEE”.
Lars Christensen, Chief Analyst Danske Bank, CEE: Markets fail to respond ...
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AIG Bank Polska, Bank, bank shares, Barcelona, Belgium, Boguslaw Kott, BRE Bank BREP.WA, Budapest, Bulgaria, central bank, Credit Suisse Group, Decline, Dutch ING Groep, Eastern Europe, Economics, Edward Hugh, energy, Erste Group Bank, Erste Group Bank AG, Estonia, Europe, Expander, Financial Oversight Commission, foreign banks, Foreign financial groups, Gross Domestic Product, Hungarian government, Hungary, Hungary, International Monetary Fund, Investing in Ukraine, Italy, Italy's UniCredit, Jacqueline Madu, KBC Group NV, Lars Christensen, Latvia, Lech Kaczynski, Lituania, local bank capital, local banks, local lenders, London, Marek Juras, Millennium, Mortgage Lender, MSCI Barra Core Poland, Pekao, PKO, PKO BP, PLZ, Poland, Poland, Poland falls, Poland's government, Polish government, Portugal, Raiffeisen International Bank Holding AG, Real Estate, Retail Customers, Romania, Russia, Slawomir Skrzypek, Spain, Stanislaw Kluza, Switzerland, The National Bank of Poland, Ukraine, UniCredit's Bank Austria, United Kingdom, United States, USD, Vienna, Waldemar Pawlak
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