18 June 2010
Total external debt declined to USD 102.8 bln, ~81% of GDP. Short-term part of the debt was up 10%, to USD 21.1 bln and is 137% covered by the NBU reserves (currently ~USD 29 bln, up 9.4% YTD). We project that in 2Q10 external debt will further go up due to corporate Eurobonds placements for ~USD 1.8 bln in April-May and recent attraction by the government of USD 4 bln loans from Russian VTB.