Ukraine’s sovereign debt to be paid on time, vows PM Shmygal

26 January, 09:17 AM
Ukrainian Prime Minister Denys Shmygal (Photo:Denys Shmygal / Telegram)

Ukrainian Prime Minister Denys Shmygal (Photo:Denys Shmygal / Telegram)

Ukraine’s sovereign debt will be paid on time, Ukrainian Prime Minister Denys Shmygal said at a press briefing following a meeting of Ukraine’s National Security and Defense Council on Jan. 24.

We do not anticipate any risks of missed payments,” said Shymygal. 

Ukraine will owe about $1 billion by April 30, according to the IMF’s projected repayment schedule.

Shmygal also added that the peak payments were scheduled for September. Until that time, the payment load on Ukraine's budget will be moderate and will come to an average of UAH 1 billion ($34.8 million) per month. 

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“We’re expecting a review of the current IMF program in February. In the meantime, we’re also working on future IMF programs,” said Shmygal.

Shmygal insisted that there are no actual threats to Ukraine’s economy at the moment, apart from “disinformation pressure,” though economists have been ringing the bell about geopolitical risk as a result of a possible renewed Russian invasion.

“Right now there are no other factors that could potentially destabilize Ukraine’s economy,” the prime minister claimed.

Shmygal also said Ukraine had UAH 55 billion ($1.9 billion) on its Unified Treasury Account as of Jan. 24, and another $30 billion in international reserves.  

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