The Minister of Finance said that Ukraine plans to repay debts on time

The Minister of Finance of Ukraine Serhiy Marchenko said that in 2020 Ukraine plans to timely repay their debt obligations.

Министр финансов заявил, что Украина планирует вовремя погашать долги

As reported by the Finance Minister in an interview with Reuters, it will be directed to funds from the IMF and other foreign partners.

Note that in late may, Ukraine will have to repay the foreign five-year bonds worth $ 1 billion, which were issued under the guarantee of the United States.

“Despite the crisis that emerged in connection with the spread of the coronavirus, we intend to fulfill our debt obligations. Ukraine performs timely and in full its financial obligations, and we see no reason to reject that approach in the future”, — said Marchenko.

The Minister noted that in January placed Eurobonds in the amount of 1.25 billion euros, sufficient to cover the commercial debt, so go to the capital markets before year’s end the government had no plans.

“Given that the remaining maturity of external public debt is the repayment of official creditors, the further implementation of the plan of external borrowings, we plan through the funding from our international partners,” — said the Minister.

It is also noted that in 2020 the state expects to receive from external sources of more than $ 9 billion, while the repayment of the external debt of Ukraine needs $ 6.2 billion.

Marchenko said that according to the agreement with the IMF, the funds will be immediately transferred to the budget and not the reserves of the NBU. To sign the agreement in the Cabinet plan in may.

The IMF agreement will be a “green light” for other loans from international partners, particularly the world Bank DPL (Development Policy Loan).

The only condition which has to perform for Ukraine to receive the IMF tranche, is the adoption of so-called “anticolonial law” that will not allow you to return the nationalised banks to their former owners.