Page 34 - UKRRptApr19

6.2 Debt
DEBT 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017E*
External debt (US$bn, 80 101.7 103.4 117.3 126.2 134.6 142.1 126.3 118.7 113.6 124.2 eop)
External debt (% of 55.8 55.3 91 86.1 77.4 77.3 79.1 96.2 130.4 121.7 126.6 ann'd GDP, eop)
FX reserves (US$bn, 32.5 31.5 26.5 34.6 31.8 24.5 20.4 7.5 12.4 11.9 15.6 eop)
FX reserves (% of 22.6 17.2 23.3 25.4 19.5 14.1 11.4 5.7 13.6 12.8 13.3 ann'd GDP, eop)
External debt / FX 2.5 3.2 3.9 3.4 4 5.5 7 17.7 9.6 9.5 8.0 reserves (x, eop)
FX reserves imports 5.6 3.9 5.9 6 4.1 2.9 2.5 1.3 3.3 3.6 3.3 cov (months)
Source: ICU
7.0 FX Source: CEIC
Ukraine’s government wants to reduce the country’s public debt to below 50% of GDP , writes Finance Minister Oksana Markarova. The debt was 61% of GDP at the end of last year.
Exchange rate 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Official UAH/USD (eop) 7.7 7.99 7.96 7.99 7.99 7.99 15.77 23.41 26.20 27.52
Official UAH/USD (avg) 5.27 7.79 7.94 7.97 7.99 7.99 11.89 21.84 22.55 26.60
The National Bank of Ukraine (NBU) confirms a relatively low level of hryvnia banknote counterfeiting based on the results of monitoring the withdrawal of counterfeit banknotes from circulation in 2018. “The current situation with the withdrawal of counterfeit domestic and foreign currencies from circulation is under control and is not critical. The hryvnia banknote’s security features match the level of those of the world’s most popular currencies. Last year, we could even observe a decline in the number and amount of counterfeit hryvnia banknotes by 30% and 41%, respectively, compared with 2017,” said Victor Zaivenko, Director of the Cash Circulation Department. In 2018, the number of counterfeit banknotes withdrawn from circulation in the banking system of Ukraine accounted for 0.00025% of the total number of banknotes in cash circulation (down from 0.00036% in 2017). This means there were approximately 2.5 counterfeit banknotes per one million authentic hryvnia banknotes (down from 3.6 banknotes in 2017). For
34 UKRAINE Country Report April 2019 www.intellinews.com