Ukraine will get $ 18 billion under the guarantee of the world Bank a month later – the Ministry of Finance

Украина получит 18 миллиардов под гарантии Всемирного банка на месяц позже – Минфин

Scheduled for January 2019 borrowing under the guarantee of the world Bank in the amount of 17,6 billion hryvnia has been transferred for February.

About it reports a press-service of the Ministry of Finance.

As noted, to ensure financing of the state budget the Ministry of Finance has made efforts to replace this source of external borrowing internal borrowing.

“In General, in January the Ministry of Finance placed government bonds amounting to the equivalent of 41.7 billion (of which government bonds in national currency in the amount of 24.4 billion hryvnias government bonds in foreign currency: 587,4 million and $ 33.3 million euros),” – said in the message.

As reported, public and publicly guaranteed debt of Ukraine in 2018 declined relative to gross domestic product from 71,8% to 62.7%.

18 December the Board of Directors of the International monetary Fund agreed on a program of assistance to stand-by for Ukraine in 14 months for a total amount of 3.9 billion dollars.

On the same day, the WB Board of Directors made the decision on granting Ukraine a financial guarantee of $ 750 million. This means that the Ukrainian government will be able to borrow on international capital markets at low interest rates.

Thanks to these tranches Ukraine’s international reserves rose to a five-year high – to 20.1 billion dollars.

The Ministry of Finance estimates the total amount of payments on the public debt in 2019 417 billion, or USD 14.2 billion.

We will remind, in August 2018года it was reported that the world Bank is preparing a guarantee operation to support reforms in Ukraine for $ 800 million. This is stated in the message of the world Bank, Ukrainian news reports.

“At the request of the government of Ukraine, the world Bank provides training guarantee operations in support of major reforms for economic growth, fiscal sustainability and governance. After the completion and approval of a new operation, Ukraine will receive a guarantee from the International Bank for reconstruction and development in the amount of $ 650 million, which will help to borrow about $ 800 million in foreign markets”, – stated in it.