PM Shmygal: Ukraine may face default without support of int’l organizations

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Photo/Cabinet of Ministers

Prime Minister Denys Shmygal has said that Ukraine risks to fall into “abyss of financial default” without the support of external international organizations.

Shmygal emphasized that this year Ukraine is supposed to pay off USD 3.5 billion of external obligations and USD 5.5 billion on domestic ones.

The head of government said that “given the challenges facing the country in connection with the coronavirus pandemic, money should be used to protect health and life of Ukrainian citizens, rather than pay off external debts.”

“Without the support of international financial organizations, to pay off external and internal debts, we will surely just have to fall into this abyss of financial default. This would be a very scary scenario for our country, so we, of course, don’t want it and we don’t expect such development of such events. We will do our best to ensure that the country remains financially stable, has a strategy to tackle and overcome the consequences of coronavirus,” Shmygal said.

As The Journalist reported, Ukrainian MPs fail to support amendments to State Budget 2020.

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