Ukraine's Ministry of Finance and the National Bank of Ukraine carried out the country's first "switch auction," a mechanism that eases the exchange of old government debt into new debt, using the new Bloomberg Auction System, according to a press release.
Ukraine has been using the Bloomberg auction system for government bond auctions since 2019, and the introduction of the new feature allows the mass exchange of previously issued government debt, referred to as "off-the-run," with newer issued or auctioned instruments, or "on-the-run."
