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State Debt in April 2020

In April 2020, Ukraine's state and state-guaranteed debt in the national currency equivalent decreased by 2.7% to UAH 2,196 billion, and in foreign currency, equivalent increased by 1.3% to USD 81.4 billion. Traditionally, fluctuations in the foreign exchange market have been a key factor in the impact on public debt. According to the National Bank of Ukraine, the appreciation of the hryvnia against the US dollar in April 2020 was 4.04%.

The activity of investors was limited against the backdrop of the global pandemic COVID-19 and expectations of a possible global economic recession. Of the four domestic bonds auctions scheduled by the Ministry of Finance for April, only one was actually held. According to the results of the auctions on April 28, UAH 9.8 billion was attracted to finance the state budget.

Thanks to the accumulated sufficient financial liquidity, the Ministry of Finance comfortably passed the period of unfavorable market conditions on the domestic capital market, timely and fully fulfilling its financial obligations.

More than half of the borrowed funds are domestic government bonds denominated in hryvnia. The weighted average yield on three-months securities was 11.24%, and the amount of borrowed resources was over UAH 5.3 billion. Another UAH 4.5 billion was attracted to the state budget from the placement of six- and eight-months US dollar-denominated bonds. The weighted average yield on these securities was 3.29% and 3.5%, respectively.

In April 2020, the government debt repayment expenditures amounted to UAH 9.9 billion, while debt service payments were UAH 9 billion.

Detailed information on the state and state-guaranteed debt of Ukraine in April 2020 and other periods can be found on the official website of the Ministry of Finance of Ukraine at the link.