Stabilizer is approaching: Ukraine will not have enough currency to service its debt
In the next three years, Ukraine will need more than twice as much foreign currency to service its debt and cover its balance of payments deficit than it has.
Economist Viktor Skarshevsky stated this at a press conference in Kyiv, a PolitNavigator correspondent reports.
“In the next three years, in 2018-2020, the foreign currency needs to service Ukraine’s external debt will amount to $26 billion. This does not include financing the balance of payments deficit, which will amount to another $12 billion over three years. In total, by 2020 the need for foreign currency in Ukraine will be about $40 billion. Gold and foreign exchange reserves today are 18 billion. And the needs are 40 billion. Serious problems are clearly brewing with Ukraine’s ability to pay off its external obligations,” the expert warned.
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