PM Groysman on Ukraine's $50 bln debt: We did not borrow but we should repay

Ukrainian Prime Minister Volodymyr Groysman says Ukraine's US$50 billion debt was accumulated from funds borrowed between 2007 and 2014 and outside assistance is needed to repay it.

"If I'm not wrong, Ukraine borrowed up to $50 billion from 2007 to 2014. It's not us who borrowed, but it's us who should repay and pay interest," he told a Ukrainian TV channel.

Read alsoUkraine's Finance Ministry borrows another UAH 5.2 bln in domestic market"Therefore, it is very important that the national economy grow, and it is very important to continue financial cooperation with our international partners, since we need outside assistance until our economy gets strong," the prime minister said.

According to Groysman, Ukraine can count on further cooperation with the International Monetary Fund.

"I think we can count on further cooperation with the International Monetary Fund. We're in technical [consultations] on this issue. I see this as absolutely possible," the prime minister stressed.

As UNIAN reported earlier, Ukraine's government and central bank should repay over $16 billion on foreign debts in 2018-2020. In 2018 alone, Ukraine should repay $7.4 billion on foreign currency debt.

Ukraine's state and government-guaranteed debt expanded by 7.5% in 2017, to $76.3 billion. The debt in the hryvnia equivalent grew by 11%, to UAH 2.1 trillion, which is within the limit set by the 2017 national budget. Experts estimate the debt accounts for about 75% of GDP.

Ukraine's international reserves as of January 1, 2018, amounted to $18.808 billion, which was 21% up on the level registered as of January 1, 2017.