The head of the NBU said, where Ukraine will take money to pay foreign debt

Глава НБУ рассказал, где Украина возьмет деньги на выплаты по внешнему долгу

Payments on the external debt will overlap in part with funds received in the last year, partly at the expense of those that has yet to be mobilized, said the head of the national Bank Yakov Smoliy.

“This year it is planned to receive 500 million euros from the European Commission and guarantees from the world Bank at $600 million. in addition, there may be two tranches from the IMF totaling about $2.5 billion, which also will go in the international reserves. Plus, like the Finance Ministry plans to raise funds from the bond placement on both domestic and foreign markets. Therefore, payments on the external debt will overlap in part with funds received in the last year, partly at the expense of those that more will be attracted,” – said resin.

He confirmed that the 2019 and 2020 are, indeed, the peak of payments. However, the NBU and the Ministry of Finance built plans for the implementation of all payments for the long term with a clear understanding of how to serve these debts.

“We have a new cooperation program with the IMF amounting to about $3.9 billion for 14 months. We received last year, $1.4 billion for this program that went into international reserves. And as we have restored cooperation with the IMF, immediately resumed cooperation with the world Bank and the European Commission. And these structures went to the Ministry of Finance to cover the deficit. In the past year from these organizations, we received more than a billion dollars”, – said the head of the NBU.

Ukraine in 2019-2020 should pay for the foreign debt of about $12 billion, including interest payments.

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