From 2022 to the end of March 2024, the weighted average cost of government and government-guaranteed debt of Ukraine decreased by almost 1.4 times – from 7.79% to 5.57%. At the same time, the weighted average maturity of government debt increased by 1.6 times – from 6.27 years to 10.04 years. This was reported by the press service of the Ministry of Finance.
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Debt
In general, at the end of March, Ukraine’s public debt amounted to UAH 5.92 trillion, or $151.1 billion. During the first quarter of 2024, it increased in hryvnia equivalent by UAH 404.8 billion, and in dollar equivalent by $5.7 billion.
This happened as a result of an increase in long-term concessional financing from international partners. Such dynamics can be traced both during the reporting quarter and over the last few years, the Ministry of Finance added.
What does Ukraine’s public debt consist of?
In terms of creditors, the lion's share of government and guaranteed debt consists of concessional loans received from international financial organizations and foreign governments – 53.8%, securities issued on the domestic market – 27.4%, securities issued on the foreign market – 16% and loans received from commercial banks and other financial institutions – 2.8%.
In terms of the currency structure of government and guaranteed debt, the share of the euro is 33.2%, the US dollar is 26.3%, the hryvnia is 25 .9%, SDR – 10.8%, and in other currencies, in particular in pounds sterling, Canadian dollars and Japanese yen – 3.8%.
OVDP
During From January to March 2024, the Ministry of Finance held 46 auctions for the placement of government bonds, attracting UAH 119.6 billion to cover the state budget deficit.
The percentage of refinancing of market bonds of domestic government loans amounted to 138%, while the percentage of refinancing of government bonds nominated in hryvnia – 207%, in US dollars – 97%, in euros – 93%.