Ukraine could borrow about $1B on foreign market by year-end - PM Shmyhal

Prime Minister Denys Shmyhal has said that by the end of the current year, Ukraine could borrow UAH 50-60 billion on the domestic market [about $2 billion] and about $1 billion on the foreign market.

"There is an opportunity to enter the foreign borrowing market by December 15. It will also include short-term loans, up to six months. Volumes depend on budget execution and the size of its deficit. It could be UAH 50-60 billion on the domestic market, and about $1 billion on the foreign market,” said the prime minister, according to the Government portal.

The prime minister stressed that if Ukraine knew the date of the IMF mission's arrival and the next tranche, then bridge loans could be a good working tool.

As reported by Ukrinform, the Finance Ministry of Ukraine completed discussions with the International Monetary Fund on the main parameters of a draft state budget for 2021, which was one of the main prerequisites for starting the first revision of the IMF Stand-by Program, setting up the mission date of the IMF European Department and receiving another tranche. It concerned the reduction of the deficit of the 2021 state budget UAH 24 billion.

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