Russian Economic Expert Aleksey Zubets: Ukraine Hopes That It Will Again Be “Saved” by Europe and America
The Ministry of Finance of Ukraine estimates the total amount of payments on the state debt in 2019 at 417 billion hryvnia or $14.2 billion. This was reported in the macroeconomic review and forecast for January 2019 published on the website of the Ukrainian Ministry of Finance.
Including payments in foreign currency it will total about $9 billion.
“In 2019 it is necessary to repay 150.5 billion hryvnia ($5.3 billion) of internal debt and 121.8 billion hryvnia ($4.3 billion) of external debt. Payments on servicing the internal debt will total 88.7 billion hryvnia ($3.1 billion), and on the external debt – 56.4 billion hryvnia ($1.9)”The prorector of the Financial University under the Government of the Russian Federation Aleksey Zubets spoke on the air of radio Sputnik about the main sources of financing of the Ukrainian economy at the expense of which the country can pay off its debts.
it is said in the document
“Ukraine hopes that the International Monetary Fund will cover the payments on the national debt, and, in fact, they won’t be able to pay it off without the help of the IMF. I.e., we are talking about the fact that it will be necessary to refinance obligations via additional IMF loans. And the second source of financing is the entry of Ukraine into the market of private investments.
In recent years Ukraine borrowed large sums there – from $4-7 billion. This is quite big money that can be borrowed. But the problem for Ukraine is that private investors started to trust it less and less. And because Ukraine becomes a more and more risky borrower, the interest rate on those loans that Ukraine can receive recently started to sharply grow”According to him, Ukraine has a way to get out of the current situation.
said Aleksey Zubets
“Ukraine, in fact, can get out of this situation by building a financial pyramid, and then over time refuse to service this debt, having declared a new default. Currently in Ukraine the necessity of restructuring those obligations that the country took on after the previous debt restructuring is being widely discussed. But the country isn’t actually capable of meeting its obligations.
However the current government doesn’t really care about this, because it is clear to all that it isn’t these people who will repay these debts, but those who will come to power after the next parliamentary and presidential elections. That’s why the present Ukrainian authorities, as far as I understand, aren’t too bothered about the solvency of their own country”He considers that if Ukraine will be obliged to completely pay off its debts, then Kiev, first and foremost, counts on the help of the West.
noted the economist
“If they will be obliged to pay off these debts in full – $14 billion – then it is actually all the money that the Central Bank of Ukraine today has. I.e., they will need to buy this money on the interbank market, throwing hryvnia cash into circulation, and this will lead to inflation and an increase in the cost of the dollar, according to some estimates, to nearly 100 hryvnia to the dollar, compared to today’s rate of 30.
This will happen if they will be obliged to pay off their debts at the expense of their own resources. But they hope that this won’t happen, that they will be saved, that this same Europe and US won’t want to lose the investments that they made in Ukraine – political and economic – and will save this country so that it continues to exist in some sort of ‘semi-syncopal condition’ similar to the one that the Ukrainian finance and Ukrainian economy are now in”
concluded Aleksey Zubets
from UKRAINE --- People are deceived by the U.S. / EU - Nazis and fascists in control of government http://bit.ly/2QK81aS
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