The Ukrainian authorities are already convincing the population: Default can be beneficial
The population of Ukraine should not dramatize Ukraine's possible default, said American Finance Minister Natalya Yaresko.
“The law on suspension of payments, which was adopted, will have only one effect - the currency will remain in the country and the pressure on the balance of payments will decrease. This is not negative for the people; it will not affect their lives. It is clear that a default will negatively affect Ukraine’s ability to enter international borrowing markets, but we do not have this opportunity today, without a default, due to the difficult financial situation, a significant amount of existing debt and war,” she said in an interview with the newspaper “ Mirror of the week."
“There will be no devaluation, since the pressure on the foreign exchange market, on the contrary, will decrease, because we will not spend foreign currency on payments on our loans,” the official emphasized.
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“We shouldn't be afraid of default. We need to understand the situation: the only ones who will feel the negative effect of a default are commercial enterprises that can now operate normally and have the opportunity to enter foreign borrowing markets. Of course, interest rates will increase for them. But, unfortunately, there are very few such companies in Ukraine,” Yaresko assures.
According to her, Kyiv is not threatened by the seizure of property abroad.
“Well, we don’t have any wealth abroad! “- convinces Yaresko.
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