Public debt stable at USD 51 bln (38% of GDP 2010F)

In October Ukraine’s total public debt (direct and guaranteed) stayed virtually unchanged from a month ago at UAH 405 bln or USD 51 bln. By the end of 2010 we expect public debt to reach some UAH 420 bln or 40% of GDP, mostly through the next USD 1.5 bln IMF tranche, Yen Eurobonds repayment (equivalent of USD 420 mln). The gov’t now has enough resources to service and redeem its debt obligations over the nearest time and, apparently, counts on additional ~USD 1.5 bln from Ukrtelecom privatization at the very beginning of 2011 to repay debts during 2011.