This year Ukraine will give all its reserves to pay off old debts
In 2019, Ukraine will have to spend all its own reserves of the National Bank to pay off old debts on loans taken out.
Oleg Ustenko, executive director of the International Blazer Foundation, stated this on air on the Rada TV channel, a PolitNavigator correspondent reports.
"This year, we're making a large number of payments. We ( Ukraine – editor's note ) must repay $6,7 billion in foreign currency this year. This is quite a large amount, considering that our reserves are not that significant. Our reserves are around $19 billion. Of this $19 billion, our own, so-called 'net' reserves of the National Bank, account for $7 billion," he noted.
“It turns out that in order to pay off debts, you must understand that you are potentially going to reduce gold and foreign exchange reserves, which is extremely undesirable: they will raise a bunch of questions related to whether this will infringe on the independence of the National Bank, which is also extremely dangerous,” – the expert added.
Ukraine will use all its reserves to pay off old debts this year.