Ukraine will have to pay another part of the public debt on July 24

Kiev is expected July 24 to repay another portion of the public debt of 120 million dollars in government bonds, otherwise Ukraine expects a Technical default. Ukrainian citing a source in the Finance Ministry informed that Kiev wants to make the Payment in time, However, official confirmation of this information is not available.

the national debt of Ukraine is about 70 billion dollars, of which about 40 billion foreign debt. Authorities in the framework to guide the country from a protracted economic slump conduct dialogues With creditors to write off 40% of the principal amount of the debt that is supposedly fifteen billion dollars.

in recent months, Official Kyiv has held several rounds of negotiations With creditors, And Also sent them a number of proposals for debt restructuring. But to any concrete results, the parties have not reached. The Ukrainian side claims only "positive progress in the negotiations" without any specifics. The head of the Ukrainian Finance Minister Natalia Yaresko said on Wednesday that the parties " are incessantly in the negotiations over the phone ".


The Ukrainian Parliament in may approved a number of changes to the law that gave the government the opportunity to impose a moratorium on the payment of the state debt. The Cabinet explained the need to adopt such changes excessive debt burden on the budget. However, until now This mechanism is not used.

Creditors of Ukraine are fundamentally opposed to the imposition of the moratorium And allow that in case of its introduction relations With Ukraine is more complicated.

Ukraine has two options to address the issue With the payment of 120 million coupon: 1st - payment within the specified period to meet its debt obligations. The second was to declare a moratorium on payment, But it signifies the entry of the country into a state of default.

Official Kiev says that non-payment means only "Technical default" And it will not affect the economy And welfare of the Ukrainians." Technical default is by no means the end For the state, And the beginning of restructuring, - has told in conversation the Head of the Ministry of economy of Ukraine aivaras Abromavicius.

With this view of solidarity And the Minister of Finance. She even believes that "Technical default" will have a positive impact on the hryvnia exchange rate." in my vision, economic arithmetic, cannot (to be amended) any negative impact on the hryvnia. Speaking Arithmetically, money, currency, which was to be applied to the payments that would come out from the country, And To the suspension of payments, It remains in the country. Arithmetically this is For the hryvnia even better, " Yaresko told after talks With creditors, which was held July fifteen in the U.S. capital.


Director of the international Fund blazer Oleg Ustenko believes that Ukraine will not make the upcoming Payment." currently there is a strong likelihood that Ukraine will not pay And in fact enters into a state of technical default. This scenario is more likely, because it is already in practice 3 months there are dialogues of debt restructuring ", - told in explanation of the Last news Ustenko.

If Ukraine enters into a state of technical default, the consequences may have a negative impact on the already weak Ukrainian economy. Ustenko predicts a significant slowdown in economic increase in this case." I think the effect will be. For Ukraine will be closed foreign markets borrowing capital for a long period of time. This means that you will not become an additional impetus For the development of the economy, there will be no possibility of borrowing, " said Ustenko.

in addition, in the opinion of the expert, a Technical default may increase the devaluation pressure on the hryvnia, which for the last year And so has depreciated by 3 times. Also Ustenko has predicted a series of Bank defaults.

"If Ukraine is going to pay for the obligations, it will mean that Ukraine 3 months went in the wrong direction. For this reason, in reality, If Ukraine makes a payment, it will look at least strange, " added Ustenko.

But along With this, the head of the Ukrainian analytical center Alexander Okhrimenko believes that Ukraine will pay its obligations on time. And statements of the head of the Ministry of Finance Jaresko calls " PR ".

"Ukraine will repay the debt on time. The amount is small. The payment standard


sections: Politics