UKRAINE'S EUROBONDS MAKE GAINS, THEN FALL. In the two weeks following the approval of reform-oriented Viktor Yushchenko as prime minister, Ukraine's Eurobonds gained some 18 percent in value, the "Eastern Economic Daily" reported on 10 January. However, Moody's last week lowered Ukraine's rating for long-term foreign currency commitments from B3 to Caa1. According to Moody's, the lower rating was caused by the Ukrainian government's plans to renegotiate the terms of foreign debt repayments due this year. As a result of this move, Ukrainian Eurobonds lost some 15 percent in value. Ukraine's Finance Ministry said the government has taken no decision on restructuring Eurobond payments, Interfax reported on 8 January. JM

UKRAINE'S 1999 INDUSTRIAL OUTPUT GREW BY 4.3 PERCENT. Olena Hubina, press secretary of former Prime Minister Valeriy Pustovoytenko, told Interfax that in 1999 Ukraine's industrial production increased by 4.2 percent, compared with the previous year. According to Hubina, this achievement testifies to the former cabinet's efficiency. She also noted that inflation in Ukraine in 1999 stood at 19.2 percent, as planned by Pustovoytenko's cabinet. JM