Maintenance. We are currently updating the site. Please check back shortly

Thomson Reuters Foundation

Inform - Connect - Empower

FACTBOX-Ukraine wins IMF deal; faces ${esc.dollar}9 billion in debt payments this year

Source: Reuters - Thu, 1 May 2014 16:16 GMT
Author: Reuters
hum-war
Tweet Recommend Google + LinkedIn Email Print
Leave us a comment

(Adds expected dates for EU credit)

KIEV, May 1 (Reuters) - The International Monetary Fund's board has signed off on a $17 billion bailout for Ukraine to boost the former Soviet state's failing economy, weakened by months of upheaval and a stand-off with Moscow that has triggered the worst East-West crisis since the Cold War.

Ukraine desperately needs to increase revenues to try to meet its foreign currency debt obligations, and the first disbursement of $3.2 billion to Kiev will help it meet immediate payments.

Below is a list of what Ukraine needs to pay and what it expects to receive in credits this year.

(Figures include both Finance Ministry and Central Bank obligations, but do not include debts owed by state companies such as Naftogaz, which now owes $3.5 billion for gas imports from Moscow, according to Russia's Gazprom.)

UKRAINE OWES:

$2.9 billion to the IMF - due over the course of the year

$1 billion on Eurobonds in June; $0.9 billion in coupon

payments

$0.9 billion due to other international financial

organisations/countries

$1.3 billion repayment of local dollar bonds

$1.6 billion early repayment of local dollar bonds

$0.5 billion local bond coupon payments and T-bills

UKRAINE EXPECTS:

$3 billion from the IMF next week

$2.7 billion from the European Union; expects up to $1

billion this month

$1 billion from World Bank

$1 billion guarantee from the United States

$1 billion Eurobond issue possibly in the second half of the

year

$0.3 billion from local dollar bond placement (Reporting by Natalia Zinets; Writing by Elizabeth Piper; Editing by Will Waterman)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of the Thomson Reuters Foundation. For more information see our Acceptable Use Policy.

comments powered by Disqus
Most Popular
TOPICAL CONTENT
Topical content
LATEST SLIDESHOW

Latest slideshow

See allSee all
FEATURED JOBS
Featured jobs