In the movie “The Wiz” there is a Wicked Witch screaming “Don't Nobody Bring Me No Bad News". The Wicked Witch would have a great time in Ukraine these days. Bad news abounds.
End of February S&P downgraded Ukraine to CCC+. This is actually a new S&P grade to "accommodate" Ukraine (have not existed before). The “+” makes Ukraine a bit better than Pakistan - currently rated “CCC”.
Since my last post more banks requested a help from Ukraine Central Bank. Over ten banks are under the Central Bank Administration. By day more and more corporate clients are unable to meet their financial obligations. More people is without work or they go to work but have not been paid for weeks or months. There is no progress on a second IMF tranche which was supposed to be disbursed in February.
And while an average Ukrainian struggles with a crises, Kiev's mayor “Cosmos” is asking “where is the love” from his humble home
http://www.whatson-kiev.com/index.php?go=News&in=view&id=6578 . Not only have Mr. Chernovetsky complained about lack of love from his neighbors, but the Parliament also showed lack of understanding for his policies. The most controversial issue is the mayor's decision in January 2009 to start charging for visits to cemeteries (http://www.kyivpost.com/city/34360/?p=0&sort=ASC )
While dead have not risen (yet) to complain about reduced visits from the living, about thousands of people demonstrated in front of Kyiv municipality: http://photo.ukrinform.ua/eng/current/indexa.php?asearch=TRUE&event_id=257199 These demonstrations prompted the parliament to order a psychiatric evaluation for the mayor who next to starting to charge alive Kiev residents for visiting their dead, also wants to have Santa Claus as a honorary citizen of Kyiv, fired a Kyiv ZOO manager for failing to find a mate for a resident elephant and started to charge USD 100,000 for receiving Kyiv residents in his office. The test of the mayor’s mental abilities is scheduled next week.
In order to show the public he is not mentally challenged - the mayor invited last week reporters to show his – physical – fitness and on Dinamo Kyiv stadium run 400m, did 15 pull-ups and in a swimming pool swam 50m. Read all and admire a photo a mayor in speedo at following links: http://www.kyivpost.com/city/37914 ,
http://www.finchannel.com/index.php?option=com_content&task=view&id=32195&Itemid=56 and http://english.pravda.ru/society/stories/18-03-2009/107257-kiev_mayor_speedo-0.
Ukraine News Agency quotes the mayor saying: “Look at this body of mine, see how I express my thoughts. I’m absolutely healthy, sane. My thinking is logical, philosophical.”
On a weather front it's still snowing. I hardly wait spring finally arrives.
End of February S&P downgraded Ukraine to CCC+. This is actually a new S&P grade to "accommodate" Ukraine (have not existed before). The “+” makes Ukraine a bit better than Pakistan - currently rated “CCC”.
Since my last post more banks requested a help from Ukraine Central Bank. Over ten banks are under the Central Bank Administration. By day more and more corporate clients are unable to meet their financial obligations. More people is without work or they go to work but have not been paid for weeks or months. There is no progress on a second IMF tranche which was supposed to be disbursed in February.
And while an average Ukrainian struggles with a crises, Kiev's mayor “Cosmos” is asking “where is the love” from his humble home
http://www.whatson-kiev.com/index.php?go=News&in=view&id=6578 . Not only have Mr. Chernovetsky complained about lack of love from his neighbors, but the Parliament also showed lack of understanding for his policies. The most controversial issue is the mayor's decision in January 2009 to start charging for visits to cemeteries (http://www.kyivpost.com/city/34360/?p=0&sort=ASC )
While dead have not risen (yet) to complain about reduced visits from the living, about thousands of people demonstrated in front of Kyiv municipality: http://photo.ukrinform.ua/eng/current/indexa.php?asearch=TRUE&event_id=257199 These demonstrations prompted the parliament to order a psychiatric evaluation for the mayor who next to starting to charge alive Kiev residents for visiting their dead, also wants to have Santa Claus as a honorary citizen of Kyiv, fired a Kyiv ZOO manager for failing to find a mate for a resident elephant and started to charge USD 100,000 for receiving Kyiv residents in his office. The test of the mayor’s mental abilities is scheduled next week.
In order to show the public he is not mentally challenged - the mayor invited last week reporters to show his – physical – fitness and on Dinamo Kyiv stadium run 400m, did 15 pull-ups and in a swimming pool swam 50m. Read all and admire a photo a mayor in speedo at following links: http://www.kyivpost.com/city/37914 ,
http://www.finchannel.com/index.php?option=com_content&task=view&id=32195&Itemid=56 and http://english.pravda.ru/society/stories/18-03-2009/107257-kiev_mayor_speedo-0.
Ukraine News Agency quotes the mayor saying: “Look at this body of mine, see how I express my thoughts. I’m absolutely healthy, sane. My thinking is logical, philosophical.”
On a weather front it's still snowing. I hardly wait spring finally arrives.
