Ukraine aggregate state debt declines 1% in April

Ukraine’s state and state-guaranteed debt declined 1.3%
m/m to USD 91.3 bln as of April 30, the Finance Ministry reported on May 26.
State foreign debt jumped 3.9% m/m to USD 45.1 bln, while state domestic debt
declined 1.3% m/m to USD 36.3 bln. State-guaranteed debt declined 0.7% m/m to
USD 9.9 bln.

In UAH terms, the overall state debt increased 0.8%
m/m in April to UAH 2,534 bln, or 60.4% of Ukraine’s GDP in 2020.

Evgeniya Akhtyrko: The jump in
the state foreign debt was due a 8Y Eurobond placement for USD 1.25 bln in late April. The
domestic debt declined as the redemption of local bonds significantly exceeded
the receipts from newly placed bonds during the month.

The lower growth of debt in UAH terms was mostly due
to a 0.5% appreciation of the national currency.

The state debt is likely to decline slightly in May as
the redemption of local bonds would exceed the receipts from new placements by
USD 0.2 bln.