Ukraine is waiting for large payments on the public debt

Ukraine in the period from 2017 to 2019 for the servicing and repayment of public debt in foreign currency has to pay 12.8 billion dollars. This was announced by Deputy head of the national Bank Oleg Churiy.

“Ukraine before the end of 2019 must pay 12.8 billion dollars. Therefore, for Ukraine it is very important to continue cooperation with the International monetary Fund. It is important to meet obligations on foreign loans,” – said Cure.

We will remind, the economist Andriy Novak today noted that with a dedicated IMF tranche of one billion dollars, Ukraine will be easier to service the debtthat has to be repaid within three years.

Cure previously reported that the fourth tranche of the IMF loan after the third revision of the program of cooperation with Ukraine in the amount of $ 1 billion will go to the accounts of the National Bank in the coming days.

As is known, Ukraine and the IMF in March 2015 signed a Memorandum of economic and financial policies which the country should undertake in the framework of the extended Fund (EFF). The entire program provided Ukraine with about $ 17 billion of which have already been allocated 7,7 billion dollars. So, in September 2016 after a delay of a year, the IMF approved the granting Ukraine the third tranche in the amount of one billion dollars.

Yesterday, April 3, the Board of Directors of the IMF completed the third review of the economic program of Ukraine in the framework of the extended financing facility (EFF) that allows you to give Ukraine about 1 billion dollars.

The decision to allocate the tranche was made after further examination by the IMF of a possible impact of the trade embargo on the Ukrainian economy and update the macroeconomic forecasts of the NBU and the Ministry of Finance. The IMF came to the conclusion that the situation will be a moderate impact on economic growth and the balance of payments and will not pose a threat to the implementation of the inflation target of the NBU.

While the IMF asked Ukraine to stop reforms. In particular, according to the IMF, Ukraine can no longer postpone the large-scale pension reform, including raising the effective retirement age.

Commenting on this statement of the IMF on the need to increase effective retirement age, the Minister of Finance of Ukraine Alexander danyluk has already explained that we are talking about the greater fairness of the pension system.

“We set the right setting – experience. Without this we can not raise the level of pensions for the Ukrainians and to guarantee them through 3 – 4 years”, – said the head of the Ministry of Finance.