The IMF left Ukraine with nothing, promising to return in March. Though Ukrainian authorities claim an agreement is close, there was no commitment to increase tariffs, and the currency policy is disputable. In reality, the ruling group is stalling for time, to keep Eurobond holders on a string as long as they can. With liquidity on external markets abundant, the Ukrainian government is unlikely to commit to painful policies. More about recent tendencies you can read in our new report “Another Game of Chicken with the IMF”. The full report could be obtained through subscription at Global Source (www.globalsourcepartners.com). Trial access is available.