Ukraine intends to repay debts on time – the Finance Minister

KIEV. April 25. UNN. Ukraine plans to timely repay their debt obligations this year and will direct on these purposes, which it intends to obtain from the International monetary Fund (IMF) and other foreign partners. The Minister of Finance, Sergei Marchenko said in an interview with Reuters, reports UNN.

So, in late may, Ukraine will have to repay a five-year external bonds at $ 1 billion, issued under the guarantee of the U.S. government.

“Despite the crisis caused by the spread of the coronavirus, we intend to fulfill our debt obligations. Ukraine performs timely and in full its financial obligations, and we see no reason to reject that approach in the future,” the Minister added.

He assured that the government is not going to enter the capital markets this year after in January has placed Eurobonds in the amount of 1.25 billion euros, which is approximately sufficient to cover the external commercial debt obligations.

See ALSO: Zelensky on the IMF money: there’s blood in the body

“Given that the remaining maturity of external public debt is the repayment of official creditors, the further implementation of the plan of external borrowings, we plan through the funding from our international partners,” — said the Minister.

It should be noted that according to the budget in 2020, Ukraine plans to borrow more than $ 9 billion from external sources, while for external debt payments, you need to spend about $ 6.2 billion.

“There is an agreement with the IMF that this year the funds under the new program will be transferred to the budget and not the reserves of the NBU, as it was radeef”, — said Marchenko.

According to the Minister, Ukraine is also completing negotiations on the loan DPL (Development Policy Loan — a loan for political development) from the world Bank and is negotiating on the provision of support to Ukraine with other partners.

Note that Ukraine hopes to sign an agreement with the IMF in may, which will attract other international lenders.

In turn, the national Bank predicts that Ukraine can get IMF tranche in the second quarter of 2020 in the amount of $ 2 billion.

To get the tranche, the Parliament must first pass a law that does not allow you to return assets to the former owners of insolvent banks.

Earlier UNN wrote that the head of the Verkhovna Rada Committee on Finance, tax and customs policy Danil Getmantsev, invited the IMF representatives to discuss the draft law on banks.