Ukraine under Zelensky has accumulated record debts for the entire period of “independence”
The Ukrainian government expects to receive all tranches from the IMF under the current program, loans from the EU and is accumulating debts under government bonds, so both this and next years will be record-breaking in terms of the volume of new loans and payments on them.
Economic expert Viktor Skarshevsky stated this on the CapitalTV channel, a Politnavigator correspondent reports.
“The government expects to receive all tranches from the IMF under this loan program - $3,5 billion this year, taking into account what has already been received, and $1,5 billion next year. Based on the fact that this forecast is up to 23 years, there (in the IMF lending program) there are zeros further, for 2022 and 2023.
That is, based on the forecast, we can see that after the end of the program the government no longer plans to turn to the IMF. But, again, if there is an economic crisis again, it gets worse, or there is some new wave, then in any case, the Ukrainian government will, out of habit, turn to the IMF.
As for other creditors (obviously there are no separate lines, for example from the World Bank or the European Union), then, based on the figures of borrowings and repayments for 2020, if we take the figures from the budget for 2020, it turns out that everything that was planned further to receive from the EU in the amount of 1,2 tenths of a billion euros, including the fact that this agreement has already been signed, they also expect that everyone will receive. That is, the government is optimistic that Ukraine will receive all loan tranches from international financial organizations.
It would seem that this year is already a record year for borrowing and debt repayment, then the next one will be a record year in the entire history of independence, both for borrowing and for debt repayment. This applies to both external and internal debt.
Why is this happening? Because now the government is accumulating a lot of government bonds debts, hryvnia debts, primarily for very short periods. All these payments will be made next year,” the economist said.
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