Page 36 - UKRRptMar21

6.2 ​Debt
Ukraine’s state and state-guaranteed debt rose 0.5% m/m to $90.7bn as of January 31, ​the Finance Ministry reported February 25. State domestic debt inched up 1.7% m/m to $1.7bn, while state foreign debt slid 0.5% m/m to $44.3bn. State-guaranteed debt increased 0.9% m/m to $10.4bn.
In UAHterms, the overall state debt increased 0.2% m/m in January to UAH2,558bn, or 62.6% of Ukraine’s estimated GDP in 2020.
The state debt in January increased as the new domestic borrowing exceeded the redemption of local bonds. The decline in the state foreign debt was due to debt repayments to IFIs.
The lower growth of the state debt in UAHterms was mostly a result of 0.3% hryvnia appreciation in January.
The state domestic debt will increase in February, as the new borrowings at the domestic market for UAH38.4bn will exceed the February redemption of domestic bonds of UAH26.2bn.
The Ministry of Finance of Ukraine revised upwards the forecast of public debt payments in January-March 2021 by UAH7.25bn, ​to UAH146.1bn, and in April-June – by UAH0.77bn, to UAH166.47bn.
According to the data on the website of the Ministry of Finance, as before, the peak periods of payments on public debt in 2021 will be in the second and third quarters.
In July-September 2021, they are estimated at UAH166.44bn, in October-December – at UAH118.46bn, according to the Ministry of Finance.
The ministry said that the projected payments on domestic debt in the first quarter are UAH8.17bn lower than a month ago and amount to UAH113.5bn, and the updated estimate of payments for the second quarter were increased by UAH1bn, to UAH140.78bn.
Projected payments on external debt for the first quarter of 2021 were reduced by almost UAH1bn to UAH32.6bn, while for the second quarter they remained at UAH25.7bn.
According to the ministry's website, in general, in 2021, payments on public debt would amount to UAH597.47bn, in 2022 – UAH283.86bn.
According to the Ministry of Finance, the total public debt of Ukraine in December 2020 expanded by 7.15% in US dollars, to $90.26bn and 6.41% in hryvnias, to UAH2.551 trillion.
36​ UKRAINE Country Report​ March 2021 ​ ​www.intellinews.com