Ukraine is in credit debts through the Russian Federation: whether the IMF debt is to be designed

Representatives of the International Monetary Fund explained whether the program of cooperation with Ukraine provides for the write -off of part of the debt for our country. The extended funding program from the International Monetary Fund (IMF) for Ukraine does not provide for the use of mechanisms to facilitate the maintenance or repayment of debt. On October 9, the Deputy Director of the European IMF Department of IMF UMA Ramakrishnan reported this in an interview with Novye Semya.

"Currently, our cooperation with Ukraine is only under the EFF program (extended funding program - RS). We are not talking about other mechanisms outside this program," she said. At the same time, she noted that the IMF could give some weakening of loan service to poor and vulnerable countries if they are in a difficult situation. But it all depends on whether there are donor grants that can be directed to repay these loans.

"For example, we have a fund called the CCRF restriction and overcoming the CCRF. At the same time, the head of the IMF mission in Ukraine Gavin Gray stated that Ukraine's debt situation is stable. Such conclusions in the IMF are made on the basis of four components. "The first is the obligation of Ukraine's authorities to comply with a prudent fiscal position. The second is the obligation of donors to continue to maintain Ukraine on a concession basis.

Third, some official donors agreed that they would not demand their debt by the end of the program. And the fourth is the obligation of the Ukrainian authorities to restructure external commercial debt, "he explained. According to Gray, the role of the IMF in this process is limited by the designation and determination of macro -financial parameters, the observance of which could guarantee the stability of debt.

But the practical implementation of such a step lies on the shoulders of the Ukrainian government. "In the case of Ukraine, we evaluate the stability of debt by analyzing the aggregate fiscal needs for the corresponding period after the program is completed. Such needs are the amount of budget deficit and repayment of the principal amount of debt.

And to guarantee the stability It should be from 8 to 9% of GDP on average for the period from 2028 to 2033, " - said the IMF mission chairman in Ukraine. It should be noted that the head of the ICU Macroeconomic Research Department Vitaliy Vavryshchuk recently told focus that the ratio of public debt to GDP at the end of this year would approach 90% and exceed 95% at the end of 2024.