Ukraine state debt falls 1.1% m/m in April

Ukraine state debt falls 1.1% m/m in April



3 червня 2014 года
Конкорд Капитал

Ukraine’s state debt, as denominated in U.S. dollars, fell 1.1% m/m, or USD 705 mln, in April to USD 65.2 bln, according to Finance Ministry data released on June 2. External debt decreased 0.4%, or USD 132 mln, while internal debt fell 2.0%, or USD 574 mln, through the month. The share of external debt increased to 56.5% from 56.1% the prior month.

 

Alexander Paraschiy: Hryvnia devaluation remains the key factor in the state debt dynamics (as denominated in U.S. dollars). In particular, internal debt decreased only due to the reassessment of UAH liabilities based on the current exchange rate. In fact, the debt increased 2.0% yoy, or UAH 6.4 bln, as denominarted in hryvnias. In regards to external debt, an IMF loan redemption of USD 654 mln stands behind the April decline.

 

In May, we anticipate the state debt to increase. Last month, Ukraine received a USD 3.2 bln loan from the IMF, placed USD 1.0 bln in Eurobonds and signed an agreement with the World Bank for USD 1.5 bln in support. By the year’s end, we expect an extra USD 10 bln from the IMF and other donors in what should push state debt to nearly 53% of GDP by the year end.

Источник: Конкорд Капитал

Аналитик: Александр Паращий
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