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Ukraine must pay $5 billion in foreign debt this year

Christian Fernsby ▼ | May 29, 2019
Ukraine must pay off foreign and domestic debts in the amount over $5 billion, that’s why the cooperation with the International Monetary Fund (IMF) is extremely important.
Ukraine central bank
European business   Ukraine central bank
Governor of the National Bank of Ukraine (NBU) Yakiv Smolii stated this at the meeting of President of Ukraine Volodymyr Zelensky with IMF Mission Chief for Ukraine Ron van Rooden and IMF Resident Representative for Ukraine Goesta Ljungman, according to the NBU press service.

“Further cooperation with the IMF is extremely important for maintaining financial stability in Ukraine. By the end of this year, our state has to repay foreign and domestic debt in foreign currency in amount over $5 billion,” Smolii said.

According to him, the volume of international reserves currently amounts to $19.3 billion, which is enough to fulfill sovereign liabilities.

“At the same time, cooperation with the IMF is also the key to access to other - official and private - funding, as well as to the continuation of structural reforms, without which long-term sustainable growth of the Ukrainian economy is impossible," Smolii said.