Ukrainian Treasury head assures no default looming

Head of the State Treasury Service of Ukraine Tetiana Sliuz assures that there is no default looming in the country.

"There will be no default as of today, because we handle payments in accordance with the budget," Sliuz said amid an annual public report, answering a question about the significant debt burden on Ukraine.

Read alsoUkrainian banks see decrease in defaulted loansShe recalled that the state and state-guaranteed debt of Ukraine as of the beginning of 2018 had hit UAH 2.1 trillion (US$77.7 billion), while spending on debt servicing last year amounted to UAH 110 billion (US$4.07 billion) in the equivalent.

"As for the deficit of the national fund's general fund, we did not go beyond the limits. This means we borrowed less," she added.

According to her, last year Ukraine did not receive the expected amount of funding from the International Monetary Fund, but the Ministry of Finance borrowed the necessary funds in the domestic market to cover the deficit of the budget's general fund.