Ukraine's Debt Continues To Shrink.
31 October 2008
Ukraine’s foreign debt fell by 3.8% in September to USD 8.1 bln. At the same time direct internal debt dipped by 0.09% to USD 4.4 bln. During the January-September period Ukraine?s total direct debt decreased by 6.1% to USD 13 bln. Concorde Capital: September’s reduction in foreign debt was due to scheduled payments of Eurobonds-2000 in amounts of USD 285 mln and payments on bonds issued to cover gas debt payments to Gazprom (Russia) for the month, USD 18 mln. We expect Ukraine’s total debt/GDP ratio to be at ~19% by the end of 2005. The recent EUR 600 mln Eurobonds placement made in October 6, 2005 is going to be offset by corresponding redemption payments in 4Q05.
