Page 45 - UKRRptSept19

$17mn; Zhytomyr --$4mn; Kyiv -- $3.6mn; and Vinnytsia -- $1.4mn.
Chinese companies are interested in the privatization of Ukrposhta, Igor Smelyansky, the postal company CEO, said after meeting Chinese logistics executives from the Alibaba Group, the world's largest e-commerce company. “I had negotiations with large Chinese companies,” he wrote on Facebook after a conference in Hangzhou. “Alibaba loves working through partners and sharing risks with them. But they want certainty, a clear strategy and clear rules at customs.”
6.2 Debt
DEBT 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017E*
External debt (US$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
Ukraine’s state and state-guaranteed debt rose 2.5% month-on-month to $82.4bn in July, according to the nation's Finance Ministry. State foreign debt declined 0.5% m/m to $39.9bn, while state domestic debt jumped 8% m/m to $32.3bn. State-guaranteed debt increased 1.5% m/m to $10.2bn. According to Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital, the hryvnia's 2.9% appreciation in July was the major reason of state debt growth in US dollar terms. Active borrowing at the local debt market also contributed. In particular, the newly placed local debt in July, which amounted to UAH71.5bn in the equivalent, exceeded the volume of redeemed local bonds of around UAH35bn, she added.
Ukraine’s ratio of state debt to GDP is 55%, lower than the 93% ratio in Egypt, a country with a B rating from S & P, better than Ukraine’s B-. “The problem is that about 70% of Ukraine's public debt is in foreign currency,”
45 UKRAINE Country Report September 2019 www.intellinews.com