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Ukraine’s Finance Ministry to borrow $630 million at foreign markets

Source : 112 Ukraine

The Cabinet of Ministers allowed ministry to borrow money at foreign markets
09:16, 22 February 2019

Open source

The Cabinet of Ministers of Ukraine allowed Finance Ministry to borrow money at foreign markets by getting credit in euro, the sum of which does not surpass equivalent of $630 million as the government reported.

“The external state borrowing will take place by obtaining credit for the total sum in euro, which does not surpass equivalent of $630 million. The commitments on the credit in euro, which does not surpass equivalent of $375 million are provided by the guarantee of the International Bank for Reconstruction and Development in accordance with the credit agreement between Ukraine, International Bank for Reconstruction and Development, Deutsche Bank AG, London Branch and TMF Global Service (UK) Limited”, the message said.

Related: Prices in Ukraine to rise by 6.3% in 2019, - National Bank

The Finance Ministry will borrow money of 5,9 % per annum, the commission for the organization of the credit will make 0,8%. The credit is provided in the form of two tranches: tranche A is planned to attract for four years and tranche B for ten years.

As we reported, Ukraine expects two tranches from the IMF in 2019 under the stand-by program opened in December last year.

Related: Labor migrants to transfer $12,2 billion to Ukraine in 2019, - National Bank

Previously, in October 2018, Ukraine and the IMF agreed to implement the stand-by program; Ukraine received the first loan in December 2018.  

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