Ukraine’s total public debt drops 0.14% in April

Ukraine’s total government debt declined 0.14% over April to USD 41.2 bln, the Finance Ministry reported yesterday on its website. Since the beginning of the year, public debt is up 3.8% yoy. Excluding the SDR allocation from the International Monetary Fund, total public debt (direct and guaranteed) now stands at USD 39.3 bln or ~33% of GDP. We forecast total public debt at 43% of GDP at yearend.