Ukraine's external debt, both state and non-state debt, totaled $125.97
billion as of April 1, 2015, 0.3% less than at the beginning of the year, the
National Bank of Ukraine (NBU) reported.
The debt increased markedly owing to the economic contraction and the
devaluation of the hryvnia, to 110.5% of GDP from 95.1% of GDP at the beginning
of the year.
The financial and corporate sectors saw debt to non- residents decline
by $5.7 billion in January-March, while sovereign debt rose by $5.4 billion due
to receipt of a $4.9 billion loan from the IMF. Swap operations with the
People's Bank of China increased NBU liabilities by $1.6 billion, increasing
overall external debt of the general government and monetary authorities to
$40.4 billion, or to 35.5% of GDP, up from 26.4%.
External debt in the banking sector fell by $1.6 billion to $17.1
billion, including a reduction of $1.4 billion in long-term debt.
External debt in other economic sectors dropped by $4.4 billion to $58.8
billion (51.6% of GDP), including declines of $1.6 billion for long-term loans
and obligations, $0.2 billion in short-term loans, and $2.7 billion in trade
credits. Simultaneously, overdue long-term debt on long-term loans and
obligations increased by $0.9 billion.
The volume of short-term external debt on a remaining maturity basis
declined by $0.8 billion to $55.5 billion.
General government payments coming due in the course of 12 months
dropped by $1.3 billion in the quarter to $6.6 billion. Payments on obligations
totaled $5.4 billion, including $3 billion owed to Russia.
Obligations in the real sector of the economy coming due in the course
of 12 months totaled $36.9 billion, down $0.7 billion in the three months. The
figure for the banking sector was $10 billion, down $0.2 billion.
Ukraine's gross external debt fell by $15.77 billion or 11.1% in 2014,
but due to the devaluation of the hryvni a and economic contraction, as a
percentage of GDP the debt rose to 96.5% of GDP from 75.4% at the end of 2013.
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