REUTERS
The 2019–2021 will be peak years for repayment on foreign debt, the official said.
Ukrainian Prime Minister Volodymyr Groysman says Ukraine's economy is balanced and has been demonstrating growth for an eleventh quarter in a row, but the state needs external support to handle peak payments on the debts accumulated in 2008-2013.
Read alsoUkraine to repay about US$5.5 bln in debt obligations in 2019-2020
"The economy has been growing for an eleventh consecutive quarter. This means that the rise has begun. In general, everything is fine in terms of demand, as it is balanced. But with regard to debts, we need external support to refinance and repay the previous debts. The 2019–2021 will be peak years for repayment on [foreign state] debt," the government press service quoted Groysman as speaking on a Ukrainian TV channel.
According to the prime minister, now the money of external creditors is being borrowed under the fulfillment of certain obligations, which should be met to have their trust back. At the same time, Groysman stressed, the government must not allow a scenario when previous promises are not fulfilled, which could trigger a protracted crisis.
"We remember the '90s: the country's bankruptcy and galloping inflation. This cannot be allowed again," the premier stressed.
As UNIAN reported earlier, Ukraine's repayments on foreign state debt in the fourth quarter of 2018 are estimated US$610 million (in equivalent). Upcoming external debt repayments are estimated at $5.849 billion and $6.009 billion in 2019 and 2020, respectively.