Ukraine IMF Debtors Ranking Puts Kyiv in the Global Top Three

For 26 years Ukraine has become one of the largest debtors of the IMF having taken the second place after Greece.

The history of relations between Ukraine and the International Monetary Fund (IMF) began in 1992. At the same time, according to the data of the Fund, for 26 years Ukraine has become one of the largest debtors of the IMF, having taken the second place after Greece.

After becoming an independent state, Ukraine has received nine tranches from the IMF. As of January 31, 2018, the number of outstanding debts amounted to more than 8.5 billion SDR (IMF monetary unit). In hryvnias at the current rate, this amount is about 322 billion or US $ 11.93 B

Greece owns IMF 9.16 billion SDRs, or approximately US $ 12.8 billion. Third place takes Portugal with a debt of 3.86 billion SDRs, that is, slightly more than US $ 5.4 billion.

At the same time, earlier in February, Ukraine partially paid off the IMF standby program of 2014. So, Ukraine has paid two tranches – $ 375 million and $ 87 million dollars. The repayment of the debt began in August 2017, prior to it there was a delay in payments caused by the restructuring of external debt, which took place in 2015.

Earlier, the Ministry of Finance reported that the aggregate state (direct) and state-guaranteed debt of Ukraine in January 2018 decreased by 0.25%, or by $ 0.19 billion – to US $ 76.11 billion.

EMPR

Image credits: sott

Source: minfin.