Date: 4 months ago   Category: Economy

The Ministry of Finance of Ukraine has warned about real prospect of a default in 2019 — Rambler News Service


The default in Ukraine will become real prospect of the country if she ceases to cooperate with the International Monetary Fund (IMF), the Ukrainian Ministry of Finance has reported. Ukraine will be able to avoid a default according to debt obligations only on condition of continuation of cooperation with the IMF as in 2019 the country should direct more than 400 billion hryvnias ($14,1 billion) to service and repayment of a debt. "If Ukraine leaves the program of the IMF, the country will lose access to financial resources of the international organizations and institutional investors, and the default of their illusive threat will turn into real prospect next year. And it would be blow for all business and each Ukrainian" — it is said in the statement of department. The Ministry of Finance has stated that Ukraine has to abstain from steps which will lead to essential reduction of income or increase in expenses of the budget. Earlier the International Monetary Fund (IMF) has reported that it will allocate to the government of Ukraine $3,9 billion within the new agreement of stand-by (SBA) calculated for 14 months. Consideration of the agreement is expected next year after the Ukrainian Parliament approves the draft of the federal budget for 2019 according to the recommendations of the IMF. Increase in tariffs for gas and heating for the population, in particular, concerns them. On October 27 the prime minister of Ukraine Vladimir Groysman has signed the resolution on three-stage increase in prices for gas for the population. From November 1, 2018 to May 1, 2019 she will grow by 23,5%, from May 1 to December 31, 2019 — for 15,2%, and since January 1, 2020 — for 25%.

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