A National Investment Council meeting Photo from UNIAN Ukraine has repaid over US$ 4 billion in debts this year, but this has not reduced the country&#39;s gold and foreign currency reserves. "Despite the fact that Ukraine has repaid more than US$4 billion this year, the gold and foreign exchange reserves amount to US$18 billion," Ukrainian President Petro Poroshenko said at a National Investment Council meeting in Kyiv. Read alsoEBRD projects 3% economic growth in Ukraine this year There was a default looming amid the most complicated economic and debt situation in 2014 against the background of military actions, he said. However, the authorities managed to find the way out and make the economy grow, he said. As UNIAN reported, S&P projects that Ukraine will face external payments on state and quasi-public debt to the tune of US$24 billion in 2018-2021. The rating agency notes that it will be extremely difficult for the Ukrainian government to handle these payments without the support of external creditors. State and state-guaranteed debt of Ukraine in 2017 grew by 7.5%, to US$76.3 billion and by 11%, to UAH 2.1 trillion, which is about 72% of GDP.