All news

Interest payments to IMF and World Bank to cost Ukraine $27.94 billion

Taking into account the principal debt and interest, Ukraine will have to pay the IMF and the World Bank $128.86 billion

MOSCOW, October 11. /TASS/. Ukraine will have to pay the IMF and the World Bank $27.94 billion in interest on its debt until 2061, according TASS calculations based on data from the Finance Ministry.

As part of the repayment of the body of debt to the international financial institutions, Ukraine will have to pay 59.7 billion euros ($66.93 billion), $21.3 billion, and 9.4 billion units of special drawing rights to the IMF by 2061 (SDR is a conditional unit used in settlements with the IMF, calculated on the basis of a basket of the five currencies. At the moment its exchange rate is $1.35 per 1 SDR, so Ukraine owes another $12.69 billion). The total amount that Kiev will have to repay on the principal debt to the international financial organizations stands at $100.92 billion.

Taking into account the principal debt and interest, Ukraine will have to pay the IMF and the World Bank $128.86 billion. These amounts will increase, and payment term will be postponed, as Kiev continues to build up its foreign debt fast.

Ukraine’s total state and state-guaranteed debt amounted to 9.603 trillion hryvnias, or $215.55 billion as of August 31. According to TASS calculations, each Ukrainian owes $8,622 based on a population of 25 million. If we assume a population of 22 million, the debt amounts to almost $9,800 per capita. There are no exact statistics on Ukraine’s population at present, but Social Policy Minister Denis Ulyutin put it at between 22 and 25 million.