Page 36 - UKRRptAug19

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 $80.4bn in June, the Finance Ministry reported on July 25. State foreign debt grew 3.2% m/m to $40.1bn, while state domestic debt rose 2.1% m/m to $29.9bn. State-guaranteed debt increased 0.9% m/m to $10.3bn. In UAH terms, overall state debt slid 0.2% m/m. Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital wrote in a note on July 26 that the placement of euro-denominated sovereign Eurobonds on June 13 for €1bn was the major factor of the state debt swelling in June. In addition, domestic debt rose as the amount of newly placed domestic bonds exceeded the amount of redeemed bonds. Concorde projects state and state-guaranteed debt will increase to $80.8bn in 2019, or around 56% of GDP (vs. $78.3bn, or 61% of GDP, in 2018).
36 UKRAINE Country Report August 2019 www.intellinews.com