The international monetary Fund urged the world to solve problems independently
Leading experts in the field of Finance called on world governments to complete the reform, while the global economy is still showing steady growth. And warned that in case of occurrence of world financial crisis on Central banks to be relied upon.
“It would be good if the development and sustainability of the economy as a whole again does not rest on the Central banks to withstand the next shock,” said the managing Director of the IMF Christine Lagarde during a speech at the world economic forum in Davos.
“That’s why I think that politicians really need to choose the correct course of action when it comes to fiscal policy and to the actual completion of the reforms that some of them started and some are only lightly touched them and must take them deeper,” she added.
Central banks around the world launched a powerful stimulus measures after the financial crisis of 2008 and the subsequent debt crisis in the Eurozone. The fed, the Bank of England and the ECB implemented unprecedented measures, such as lowering interest rates to a record low and buying government bonds in huge quantities. Earlier it was reported that the ECB, for instance, hopes to up the ante in the second half of 2019.
However, many believe that it can lead to complacency and the feeling that the Central Bank will always come to the aid, so the countries are not carried out necessary reforms.
“I hope we don’t rely on Central banks in resolving problems,” said UBS CEO Sergio Ermotti.
He added that countries must “take the bitter medicine” (to carry out tough reforms – ed.) until the conditions for their implementation are favorable. Adding that changes must be of such high quality that people and employers disappeared constant fears about increasing automation and loss of jobs.
As previously reported, the amount that Ukraine must pay on its external debt in 2019. We are talking about 150,13 billion or $ 5.4 billion.
In the first quarter of next year, Ukraine needs to repay and service foreign debts amounting to, respectively, 13.31 billion hryvnia, and 19,98 billion, the second – 44,5 billion hryvnia, and of 5.19 billion in the 3rd quarter of 37.39 billion and 20,09 billion, and in the 4th quarter of 4.81 billion and 4.86 billion, respectively.
In 2020 178,45 billion or $ 6.4 billion (at the rate of NBU).
Note the aggregate state (direct and guaranteed) debt of Ukraine in October decreased by 0.5%, or 0.35 billion dollars to 74,32 billion (as at 31 October) compared to the previous month.
The total amount of direct debt as of October 31, 811,43 amounted to 1 billion hryvnia (64,32 billion dollars) against 1 827,46 billion hryvnia (64,58 billion) a month earlier.
The direct external debt for the month decreased by 0.21 billion dollars to 37.65 billion dollars, while direct domestic debt – to 5.12 billion to 751,15 billion (in dollar equivalent decreased to 26.67 billion).