Deposit Guarantee Fund initiates restructuring of UAH 116 bln debt to Finance Ministry in 2020

12:02, 16.01.2020 1 min read

The Deposit Guarantee Fund initiates the restructuring of its UAH 116 billion debt to the Finance Ministry in 2020, Managing Director of the fund Svitlana Rekrut has said.

"The second priority is restructuring of the debt to the Finance Ministry, which is left in the amount of UAH 49 billion and UAH 67 billion. This is more than the principal amount of the debt, as these are interest accrued," she said during the presentation of the Strategy of Ukrainian Financial Sector Development until 2025 held in Kyiv on Thursday.

As reported, Ukraine's Verkhovna Rada passed at second reading president's bill with amendments to the national budget for 2020 regarding the Entrepreneurship Development Fund (bill No. 2589). The law provides for an increase in the special fund of the national budget in 2020 by UAH 2 billion due to early repayment on bills by the Deposit Guarantee Fund. These funds will be used to finance a new budget-sustained program – the Entrepreneurship Development Fund.