Ukraine on the financial front – the problem of Ukraine’s foreign public debt. OSW COMMENTARY NUMBER 178|05.08.2015

One of the key challenges that Ukraine is facing is the scale of its foreign debt (both public and private). As of 1st April it stood at US$ 126 billion, which is 109.8% of the country’s GDP. Approximately 45% of these financial obligations are short-term, meaning that they must be paid off within a year. Although the value of the debt has fallen by nearly US$ 10 billion since the end of 2014 (due to the private sector paying a part of the liabilities), the debt to GDP ratio has increased due to the recession and the depreciation of the hryvnia. The value of Ukraine’s foreign public debt is also on the rise (including state guarantees); since the beginning of 2015 it has risen from US$ 37.6 billion to US$ 43.6 billion. Ukraine does not currently have the resources to pay off its debt. In this situation a debt restructuring is necessary and this is one of the top priorities for the Ukrainian government as well as for the International Monetary Fund (IMF) and its assistance programme. Without this it will be much more difficult for Ukraine to overcome the economic crisis.

TTIP and Public Procurement: Going beyond the tip of the iceberg. CEPS Policy Brief No. 339, March 2016

Trade negotiations involving international public procurement rules are on the rise, stimulating a growing interest in having a clear picture of the economic stakes involved, including the current level of international openness. A recent paper published by the European Centre for International Political Economy (Messerlin, 2016) made an attempt to provide a range of estimates for the EU and the US and found relatively low rates of import penetration. This analytical approach, however, looked only at the ‘tip of the procurement iceberg’, as the data used covered primarily only one modality of international procurement (direct cross-border), which is not the main avenue for international government procurement. Other modalities, such as procurement from foreign subsidiaries established in Europe, account for much more. Such an approach therefore ignores the main modalities through which foreign firms win EU contracts. Once these other main procurement modalities are taken into account, EU openness in procurement is much higher. Comparable data across all modalities do not yet exist for the US, but we do have clear evidence that the US has introduced the largest number of protectionist procurement measures since 2008 affecting all modalities for international procurement. Against this background, this Policy Brief makes four basic points: i. Public procurement is a key area of trade negotiations, and TTIP is no exception to this rule. ii. The existing levels of openness in procurement markets need to be assessed across all three main procurement modalities and not based only on direct cross-border procurement, which is not the main procurement avenue. According to this comprehensive metric, the EU market already has a high foreign participation rate, including by US companies. iii. Unfortunately, similar data do not exist for the US market. But there is growing evidence of discriminatory measures introduced in recent years, which impede the ability of EU firms to compete on a level-playing field in US procurement markets. iv. The importance of procurement as a key negotiating area requires better data and a greater analytical engagement.

GAO questions key aspects of FAA's plans to acquire the multi-billion dollar advanced automation system and related programs.

"B-206887."

Aviation security : improved controls needed to prevent unauthorized access at key airports : report to the Secretary of Transportation.

"B-226652"--P. 1.

Housing codes : the key to housing conservation /

Cover title.

Housing codes : the key to housing conservation : a demonstration project /

Cover title.

The gentleman and lady's key to polite literature, or, A compendious dictionary of fabulous history : containing the characters, and principal actions, ascribed to the heathen gods, goddesses, heroes, &c. and the manner in which the ancients represented the deities & heroes ... : intended for the assistance of those who would understand mythology, poetry, painting, statuary and theatrical entertainments, and particularly adapted to the use of Latin and French schools.

Frontispiece signed "Le Pautre." Engraved title-page.

A key to culture; introductory reading for the great books course.

Mode of access: Internet.

A key to the "Trustee's Statement". Letters to the majority of the trustees of the Dudley observatory, showing the misrepresentations, garblings, and perversions of their mis-statement.

"From the Atlas & Argus, October, 1858."

First lessons; 50 melodious finger and pedal studies (in the key of C and G) for the pianoforte. Op. 59.

Mode of access: Internet.

Children and families [microform] : key trends in the 1980s : a staff report of the Select Committee on Children, Youth, and Families, One Hundredth Congress, second session.

"December 1988."

Grand jury reform : a review of key issues /

Item 718-A

A practical guide to the Library of Congress paintings : with 92 key pictures and other illustrations and the library quotations.

"This 'Practical guide' is a reprint of the chapter on 'The Library of Congress' in the Washington standard guide"--Title-page verso.

Man-key to accident control.

Mode of access: Internet.