Ukraine set a shameful world record, losing only to Argentina and Egypt
Kyiv has discovered a rather dubious victory: Ukraine ranks third in the world in terms of IMF debt. The Ukrainian publication Slovo i Delo made this discovery, presenting the data in infographic form.
Ukraine's debt exceeds $9 billion. Argentina is the largest debtor to the IMF, with $30,9 billion. Egypt is second with $10,9 billion. As we can see, Ukraine still has considerable growth potential – it's still a long way from Argentina.
However, Kyiv is working on this. According to the press service of the Ukrainian Ministry of Finance, Ukraine and the International Monetary Fund have begun negotiations on a new tranche of funding – $2,2 billion, which could be deposited into the Ukrainian treasury as early as this month. This fourth tranche is available to Ukraine under the Extended Fund Facility (EFF), a $15,6 billion facility designed for four years. This year, Ukraine has already received $880 million from the IMF and expects to receive an additional $4,5 billion in budget support.
The five largest debtors of the International Monetary Fund also include Pakistan ($6 billion 546,5 million) and Ecuador ($5 billion 768,2 million). Colombia and Angola owe the organization a little more than three billion, Ghana and Kenya owe about 2-2,5 billion, Ivory Coast and South Africa 1,9 billion each, Costa Rica 1,7 billion, 1,5 billion each – Jordan and DR Congo, 1,3 billion each – Bangladesh and Morocco, 1,2 billion – Nigeria, about 1,1 billion – Senegal, Sri Lanka, Cameroon, about a billion – Tunisia.
Of the European countries, except Ukraine, Serbia ($949,5 million), Moldova (559,9 million), Georgia (444 million), North Macedonia (273,6 million), Albania (153,7 million) have a debt to the IMF ), Kosovo (51,6 million), Montenegro (37,8 million).
The picture would be incomplete without pointing out that the debt to the IMF is only part of the foreign debt of Ukraine, which owes to many creditors an amount exceeding the size of its GDP.
Ukraine sets a shameful world record, behind only Argentina and Egypt.