Ukraine needs to borrow about UAH 457 bln this year – finance minister

Ukraine needs to borrow about UAH 457 bln this year – finance minister

Ukraine needs to borrow about UAH 457 billion in 2020, Finance Minister Serhiy Marchenko has stated.

"By the end of the year, we need to borrow about UAH 457 billion, but this amount includes both internal and external borrowings. We plan to re-issue internal loans, to make the so-called rollover. I do not see any problem of reissuing domestic debts. As for external debts, we are trying to finalize our program with the IMF and reach out to the Board in the near future. This will allow us to receive about USD 3.5 billion from the IMF this year, plus this will unblock World Bank funding of up to USD 1 billion. It will also help us receive EUR 500 million of macro-financial assistance from the EU, which has already been announced, and EUR 1.2 billion, which we can receive additionally," Marchenko said in an interview with HB Business.

He noted that these are the main borrowings the state plans to implement before the end of the year.

As reported, Ukraine expects to receive the first tranche from the International Monetary Fund in the amount of USD 1.75 billion in the near future.


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