Finance Minister Oksana Markarova said that Ukraine really has a chance to become a self-sufficient and independent of the support of International Monetary Fund after completion its new three-year program.
According to the minister, Ukraine has agreed on a new three-year IMF program worth USD 5.5 billion and is awaiting approval of this decision by the management of the Fund.
“Ukraine really has a chance to become completely self-sufficient in three years. The 2019, 2020 and 2021 are peak years in payments and servicing of debts, some of which were accumulated earlier,” Markarova said.
There was a high share of government debt in foreign currency until 2013, while the debt was short-term, and the domestic debt market was closed.
“We made long term borrow mainly in hryvnia, reducing interest. For the first time, six-year bonds were placed on the Ukrainian market,” the Interfax-Ukraine quoted Finance Minister as saying.
Markarova is convinced that reducing debt to GDP ratio while accelerating economic growth through privatization, concessions, industrial policies and attracting investment will make it possible to see a completely different Ukraine’s economy in three years.
Debt servicing will be no more than 10%.
As The Journalist reported, Ukraine to get EUR 500 mln macro-financial aid from IMF.
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