Ukraine state debt slides 0.25% in January

Ukraine’s state debt slid 0.25%, or USD 190 mln, to
USD 76.1 bln in January, the Finance Ministry reported on Feb. 27. In UAH
terms, the debt dropped 0.46%, or UAH 9.8 bln, to UAH 2,132 bln. The debt was
73.3% of Ukraine’s 2017 GDP.

Evgeniya Akhtyrko: The Finance
Ministry’s local bond placement in January, totaling UAH 12.4 bln, was lower
than Ukraine’s debt repayment during the month, which included the retirement
of UAH-denominated local bonds at UAH 3.0 bln, local Eurobonds at USD 431.2
mln, and EBRD repayments for USD 300 mln. The lower percentage decrease of debt
in USD (compared to UAH terms) is due to a 3.1% devaluation of the local
currency during the month.

For 2018, we project the state debt will rise to USD 78.6
bln (69.8% of GDP) assuming cooperation with the IMF is maintained.