IMF: Ukraine's foreign debt to soar to 102% of GDP
Ukraine’s foreign debt will rise to 102.2% of GDP, and is expected to rise further in 2015, the country’s key creditor the International Monetary Fund (IMF) has forecast.
Kyiv’s guaranteed debt in 2014 will amount to 67.6% of GDP, while in 2015 it will rise to 73.4%, the fund said in a special report on Eastern, Central and South-Eastern Europe. The IMF said that in 2015 Ukraine’s gross external debt will be 106.4% of GDP.
Earlier, IMF Managing Director Christine Lagarde confirmed that Ukraine would require additional funding to stabilize its economy, but it most likely should not depend on the IMF for this. At the same time, the fund predicted that in 2015 the amount of external financing required by Ukraine would reach at least $19 billion.