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News / 4 December 2013 | 10:56
Ukraine meets its debt obligations in full

Ukraine meets its debt obligations in full

Ukraine meets all its debt obligations in full. This announcement was made by Yuriy Kolobov, Finance Minister on the air of the parliamentary Rada channel. He said that all services and specialized divisions of the Ministry work in a normal mode and ensure stability of public finances, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine reports.

Experts say Ukraine will not have any problems with meeting debt obligations through the end of 2013. According to the State Treasury, as of Dec. 1, 2013, the government paid the national debt in the amount of 29.1 billion UAH (including the internal debt - 20.1 billion UAH, external debt - 9.1 billion UAH.), in repayment - 65.7 billion UAH (including the internal debt - 37.1 billion UAH, external debt - 28.6 billion UAH). The government’s borrowing for the period totaled 117.3 billion UAH. (including external borrowing - 24 billion UAH).

The National Bank of Ukraine has paid in full all its obligations to International Monetary Fund (IMF) this year. In total, the government and the National Bank has paid back to IMF 5.625 billion USD of the principal debt and 0.168 billion USD of interest payments.

The government will have to pay creditors about 100 million USD in December which is no issue, experts stress.

They are also confident that there won’t be any problem with meeting obligations in 2014. 

In January 2014 over 0.4 billion USD, and in February almost 1 billion USD will become payable.

Analysts say that next year Ukraine must pay creditors 8.2 billion USD. Of these, liabilities to the IMF amount to 2.4 billion SDR, or 3.67 billion USD, based on SDR/USD rate on December 2, 2013.

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