For three years need to pay more than $24 billion – NBU

За три года нужно выплатить более $24 млрд - НБУ

Photo: Reuters

The Central Bank said the amount which Ukraine will have to pay for the debts until 2023.

In 2020-2022, Ukraine needs to pay more than $ 24 billion. This is stated in the financial stability Report, National Bank published on Tuesday, December 17.As noted, a large part of this amount will need to be refinanced in foreign markets.

“The repayment and servicing of foreign currency debt is a key medium-term challenge,” noted the Central Bank.

The report notes that due to the improved economic situation, most credit agencies have upgraded the ratings of Ukraine. This has increased the ability to attract funds in the international market, but their cost is still too high. In early December the yield on dollar-denominated Eurobonds of Ukraine was in the range of 4-7% depending on maturities.

“That is why the cooperation with the IMF and other international financial institutions is critical. A new three-year program of expanded financing (EFF) in the amount of about $ 5.5 billion will further reduce the cost of sovereign and corporate borrowing. In addition, the program of cooperation with the IMF is not so much the money as the “anchor” for the realization of important economic reforms, which sometimes are socially unpopular. Therefore, for international investors there is a program with the IMF is a factor of trust to the country and proof that the reforms are going according to plan”, – the document says.

За три года нужно выплатить более $24 млрд - НБУ

As you know, next year the debt will spend 423,6 billion.

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