Ukraine intends to repay debts, totaling 14 billion dollars, in 2017-2019, 11 billion out of which will be repaid from the state budget through entering international loan markets on favorable terms, Minister of Finance Alexander Danyliuk told at Ukraine’s Economy Development Forum in Kyiv, UNIAN reports.
“The key to repayment is the market entry on favorable terms. We plan to enter the market this autumn. It is evident that we may obtain favorable terms only if you demonstrate progress in implementation of reforms, progress in the program of cooperation with IMF. It does not mean that IMF is not worth mentioning. We just have to focus on what we can do inside the country…”, the minister said.
“I believe that it is the positive way. The progress in cooperation with IMF will become a good point of entry to the loan market. Of course, the debt repayment is an issue; however, the process is manageable”, he added.
It should be reminded that the International Monetary Fund expects that by late 2017, Ukraine will return to the external commercial borrowings market and will issue eurobonds, totaling USD 1 billion.
The state debt of Ukraine makes up 66.8% GDP, and out of its total amount, the currency loans make up 70%.
The state and state-guaranteed debt of Ukraine for January-April 2017 increased in USD equivalent by 3.33 billion dollars or by 4.7% - up to 74.31 billion USD dollars as of April 30.
