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NBU-Borys Prykhodko: Gross External Debt of Ukraine reduced by USD 4.7 billion in the 1st quarter of 2014

June 23, 2014

ENP Newswire - 23 June 2014

Release date- 19062014 - As of the end of the 1st quarter the Ukraine's gross external debt reduced by USD 4.7 billion or by 3.3% and made USD 137.4 billion.

Gross External Debt to GDP went down from 78.1% as of the year start and equaled 76.5%.

According to the Deputy Governor of the National Bank of Ukraine, Mr. Borys Prykhodko, the reduction was due to scheduled repayments of IMF loans by Ukraine and decrease in real economy payables.

At the same time, Mr. Borys Prykhodko noted that the banking sector external debt had remained almost unchanged in the first quarter and made USD 22.3 billion or 12.4% of GDP as of the end of reporting period. While liabilities under deposits and accounts of non-residents in Ukrainian banks in the amount of USD 1 billion were offset by USD 1.1 billion in external short-term loans.

In the 1st quarter of 2014, short-term external debt dropped by USD 2.1 billion and made USD 62.7 billion mainly due to reduction of debt under short-term trade credits to real economy.

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Source: ENP Newswire

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