Ukraine is entangled in debt: The show will end very quickly
Ukraine, which has accumulated gigantic debts, is trying to borrow even more money, without the approval of the IMF, which could complicate Kyiv’s relations with the fund. Managing Director of the investment company ICU Makar Pasenyuk stated this today at the Ukrainian Financial Forum in Odessa.
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“We are talking about the price of the next billion that we are going to borrow. We will see debt rise relative to GDP. The IMF may stop funding because we violate every conceivable restriction associated with the restructuring requirements. And the show will end very quickly,” Paseniuk said.
He sees a way out in attracting private capital for privatization.
Let us recall that in 2016 Ukraine received $1 billion from the issue of Eurobonds under US guarantees. This week, Ukraine entered the borrowing market and attracted another $3 billion for 15 years with a return rate of 7,375% per annum.
The Ministry of Finance of the Russian Federation believes that the Eurobonds placed by Ukraine the day before may be of interest only to speculative investors, since the country is de facto in default.
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