Ukraine to place Eurobonds by June ─ FinMin

Ukraine to place Eurobonds by June ─ FinMin

Oleksander Danylyuk, the Ukraine’s finance minister, believes Eurobonds to be an alternative for IMF loans

Ukraine will most probably place Eurobonds in H1/2018, told Oleksander Danylyuk, the country’s finance minister. The FinMin takes responsibility for the needs of external financing and wishes to exploit favorable market conditions in a due time.

To note, the budget foresees allocation of UAH 130bn (USD 4.5bn) to servicing foreign debts of the country this year. The due payments will increase even more in 2019. At this, the FX and gold reserves rose from USD 15.5bn to USD 18.8bn in 2017. The currency board attributes the increase to funds allocations from the IMF and buy outs of the foreign currencies in domestic market by the regulator during favorable market interventions.

To remind, Ukraine placed USD 3bn Eurobonds last year for the first time since 2013. A part of the attracted funds were channeled for the buyout of the country’s traded bonds rescheduling some due payments from 2019-2020 to 2032.

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