Ukraine's foreign debt almost doubled

15:33, 17 December 2008
1031 0

To $105 bln in Jan.-Sept.

Ukraine`s gross foreign debt almost doubled in the first nine months of 2008 and stood at $105 billion as of October 1, a spokesman for the ex-Soviet country`s National Bank said on Wednesday, according to the President`s press-office.

Ukrainian banks contributed most to the foreign debt growth: their debt trebled to $42 billion from January through September.

Ukraine was swept in October by a financial crisis caused by the ongoing global credit crunch. The country`s key exporters - the steel and chemical sectors - were hit hardest.

The International Monetary Fund has agreed to lend Ukraine $16.43 billion to stabilize domestic economy. Ukraine has so far received the first $4.5 billion of the loan.

The parliament has passed anti-crisis legislation to help it deal with the situation.

RIA Novosti
If you see a spelling error on our site, select it and press Ctrl+Enter