Page 46 - UKRRptSept21

59.6% of Ukraine’s GDP in 2020.
An additional issue of 8-year international bonds in July for $500mn resulted in an increase of state foreign debt. The state domestic debt didn’t undergo statistically significant changes as the receipts from local bond placement were close to the redemption of local bonds during the month.
In UAHterms, the overall state debt slid mostly as a result of a 1.1% m/m hryvnia appreciation during the month.
Analysts expect the state debt to slide in August as the redemption of local bonds exceeded the receipts from newly placed bonds during the month by UAH9.3bn ($0.34bn).
Ukraine’s state and state-guaranteed debt increased 1.1% month on month to $92.5bn as of June 30, the Finance Ministry reported on July 26. State domestic debt rose 1.5% m/m to $36.8bn, while state foreign debt slid 0.4% m/m to $45.0bn. State-guaranteed debt expanded by 6.3% m/m to $10.7bn.
In UAH terms, the overall state debt slid 0.1% m/m in June to UAH2,514bn ($93.6bn), or 60.0% of Ukraine’s GDP in 2020.
“State domestic debt increased as new borrowing at the domestic market in June exceeded the local bond redemptions during the month. The increase of state-guaranteed debt was related to the placement of 7Y Eurobonds by Ukraine’s State Road Agency Ukravtodor (UKRAVT) for $700mn in mid-June. In UAH terms, the overall state debt slid mostly as a result of a 1.3% m/m hryvnia strengthening during the month. The domestic debt will decline in July as the redemption of local bonds will exceed the receipts from local bond placement during the month. Meanwhile, the state foreign debt will increase as a result of an additional issue of 8Y international bonds on July 22 for $500mn,” an analyst at the Kyiv-based Concorde Capital brokerage said in a research note.
7.0 FX
Ukraine FX
Aug 2020
Sept 2020
Oct 2020
Nov 2020
Dec 2020
Jan 2021
Feb 2021
Mar 2021
Apr 2021
May 2021
June 2021
July 2021
Aug 2021
Currency (units per EUR) (average)
32.5
33.0
33.4
33.5
34.3
34.3
33.7
33.1
33.4
33.5
32.8
32.2
31.5
Currency (units per USD) (average)
27.5
28.0
28.3
28.3
28.2
28.2
27.9
27.8
27.9
27.6
27.2
27.2
26.8
source: NBU
46 UKRAINE Country Report September 2021 www.intellinews.com