Finance Ministry borrows over US$317 mln on domestic market

No bonds have been placed denominated in foreign currency.

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Ukraine's Finance Ministry borrowed UAH 10.017 billion, or US$317.3 million, for the national budget at a recent weekly auction to place government domestic loan bonds held on May 5.

Funds in hryvnias were raised through the placement of securities with a 91-day maturity period and a weighted average yield of 11.24% per annum, the ministry said on its website.

No bonds have been placed, denominated in foreign currency, the report said.

Read alsoState budget sees deficit of almost UAH 24 bln

As UNIAN reported earlier, on April 28, the Finance Ministry returned to the domestic borrowing market after a few weeks off, having resumed weekly auctions to place government domestic loan bonds. As a result, the ministry raised UAH 5.377 billion (US$199) to the state budget, as well as US$53.3 million and US$111.1 million.

Panic on global markets caused by the rapid spread of the coronavirus had triggered the weakening of local currencies in developing economies and a decline in stock market quotes.

As a result, non-residents suspended purchases of debt securities of developing economies, including Ukraine.

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