Prime Minister of Ukraine Denis Shmygal said that the government will continue to fulfill its obligations to creditors.
Despite the new challenges, the Ukrainian government does not see any reason for restructuring the public debt and urges not to speculate on the topic of debt policy, the press service of the government said on March 24.
“Ukraine is entering turbulent times with much stronger positions than it was during previous crises: international reserves are at the highest level in recent years, inflation is record low, the state budget is balanced, and the public debt to GDP ratio has fallen to record low 44.3%, “it was informed.
The Government emphasizes that, despite the difficult situation associated with the spread of coronavirus, the Ministry of Finance of Ukraine continues to implement the Medium-Term Strategy for Public Debt Management, has diversified sources of raising funds to finance the state budget, and will continue to fulfill its obligations to creditors in full.
On the evening of March 23, Shmygal announced on the need to restructure Ukraine’s external debts on the ICTV channel on the Freedom of Speech program.
“External debts. We really need to restructure them, and we started negotiations with our international partners,” said the Prime Minister.
In accordance with the state budget, the boundary volume of the total public debt as of December 31, 2020 installed at the level of 2.36 trillion UAH (of which 2.045 trillion UAH is the state debt, 318.37 billion UAH is the state guaranteed debt).
In January 2020, the aggregate state and state-guaranteed debt in dollar terms decreased by 1.1% to $ 83.43 billion due to the devaluation of the national currency.