Ukraine's total direct and guaranteed state debt in October-November 2015 fell by $5.52 billion or 7.8%, reaching $65.15 billion, the Finance Ministry of Ukraine reported on its website on Tuesday.

In hryvnias, state debt fell by 2.3% or UAH 34.714 billion, to UAH 1.521 trillion. This is linked to devaluation of the hryvnia over the period from UAH 21.5275/$1 to UAH 23.8847/$1.

The debt reduced also thanks to the restructuring of eurobonds when 20% of bonds were exchanged to government warrants conventionally worth $2.916 billion, payments on which in 2021-2040 depend on the pace of Ukraine's GDP growth. The Finance Ministry did not include these liabilities into the state debt, although at present they are listed on the market at 41.66% of their face value.

The ministry said that total foreign debt in October-November 2015, not taking into account government warrants, fell by 7.7% or $3.57 billion, to $42.91 billion.

In January-November 2015, total direct and guaranteed state debt in the U.S. dollars fell by $4.66 billion, while in hryvnias it grew by UAH 455.25 billion or 41.4%. The ministry said that the main reason of state debt growth in the national currency is its devaluation by 36.52% in the period, to UAH 21.53/$1.