Ukraine will continue fulfilling its obligations to creditors in full
The government of Ukraine, despite the new challenges, does not see any reason for restructuring its public debt and urges not to speculate on the subject of debt policy, according to a statement on the website of the Cabinet of Ministers of Ukraine.
"Ukraine is more prepared for the potential crisis than in 2008. We have significant reserves, high liquidity of banks, and all macroeconomic parameters, which are much better," Prime Minister Denys Shmyhal said.
The Cabinet of Ministers notes that international reserves are at the highest level in recent years, inflation is record low, the state budget is balanced, and the direct public debt to GDP ratio fell to a record low of 44.3%.
"Despite the difficult situation in connection with the spread of coronavirus, the Ministry of Finance continues to implement the medium-term strategy of public debt management, has diversified sources of funds to finance the state budget and will continue fulfilling its obligations to creditors in full," the report says.