Page 46 - UKRRptJul20

$10mn.
Ukrposhta plans to sell its Stalin-era landmark headquarters on Khreschatyk Street​, Kyiv’s main street. Igor Smelyansky, CEO of the state postal company, believes the building would sell for $37mn. Modernizing the building would cost $3.5mn, he says in a TV interview. Ukrposhta plans to sell the main sorting centre near the Kyiv central railway station, and with the proceeds to build a new sorting centre outside of Kyiv. Two weeks ago, Ukrposhta held seven auctions on Prozorro.Sales, selling non-core real estate for a total of $3.4mn.
6.2 ​Debt
The International Monetary Fund (IMF), Ukraine's key lender, says the country's public and government-guaranteed debt may grow to 65.4% of GDP in 2020 from 50.4% of GDP in 2019. The debt is expected to shrink to 62.7% of GDP in 2021 against 2020, and to 60.5% of GDP in 2022, according to the IMF press release of June 9. Ukraine's total external debt may reach 93% of GDP in 2020, 84.6% in 2021, and 77.9% in 2022.
Ukraine’s state and state-guaranteed debt rose 0.8% m/m to $82.1bn as of May 31​, the Finance Ministry reported on June 25. State domestic debt jumped 4.7% m/m to $33.1bn, while the state foreign debt slid 2.1% m/m to $39.3bn. State-guaranteed debt inched up 0.3% m/m to $9.7bn. In UAHterms, overall state debt increased 0.6% m/m in May to UAH2,209bn, or 55.6% of Ukraine’s GDP in 2019. The higher growth rate of state foreign debt in $terms was due to 1.5% hryvnia appreciation in May. June's growth rate is certain to have jumped further given the newly attracted debt from the IMF ($2.1bn) and European Union (EUR 500). At the same time, state domestic debt will have declined around $0.2bn as the amount of redeemed domestic debt will have exceeded what had been sold at the domestic market during the month. With all these ins and outs, Ukraine's state debt will have increased by around $2.5bn, or 3% m/m in June​.
46​ UKRAINE Country Report​ July 2020 ​ ​www.intellinews.com