REUTERS The National Bank of Ukraine (NBU) says Ukraine in 2019-2021 may receive US$8.5 billion from placement of eurobonds. The said revenue, together with funding from Ukraine&#39;s external donors, including $6.5 billion from the International Monetary Fund and $1.6 billion from the European Union and the World Bank each, will allow refinancing most of the payments on external obligations, according to the NBU&#39;s January 2019 Inflation Report. The regulator believes that in 2019-2021, fiscal policy will be tighter than in 2018, and expects the consolidated budget to record a deficit of no more than 1.5% of GDP as external debt repayments reach peak levels. According to the central bank, the ratio of Ukraine&#39;s public debt to GDP dropped from 72% in 2017 to 61% in 2018. Read alsoUkraine reports US$2.5 bln in FDI in past year – NBU The regulator predicts that the continued rapid nominal GDP growth, low exchange rate volatility, and continued primary surpluses in the consolidated budget (over 1% of GDP a year) amid large repayments will reduce public and publicly guaranteed debt to below 60% of GDP. As UNIAN reported earlier, Ukraine is to pay foreign creditors about $179 billion, or $6.1 billion at the official rate of the National Bank, to repay and service state and government-guaranteed debt in 2019. Ukraine&#39;s state and government-guaranteed debt, estimated in U.S. dollars, grew by 2.6%, or by $2.02 billion, to $78.32 billion, in 2018. The debt in the hryvnia equivalent over the period under review rose by 1.3%, or by UAH 26.94 billion, to UAH 2.169 trillion ($80.5 billion, at the NBU current rate). The IMF Executive Board approved a new 14-month Stand-By Arrangement for Ukraine worth $3.9 billion. Ukraine received the first $1.4 billion tranche under the new program on December 21, 2018.