Wednesday 2 October 2013

XE.com - Ukraine seeks $4 bln loans in 2014 to repay foreign debt

XE.com - Ukraine seeks $4 bln loans in 2014 to repay foreign debt:

"Ukraine will seek to borrow $1.5 billion abroad this year and try to raise another $4 billion next year to help it service its foreign debt, the Finance Ministry said on Wednesday.

Galina Pakhachuk, director of the ministry's debt department, told journalists that the ex-Soviet republic's foreign debt repayments next year would be around $6.1 billion, including $2.9 billion of credit owed to the International Monetary Fund.

In September, Moody's cut Ukraine's eurobond rating while Standard & Poor's and Fitch expressed concern over the country's ability to refinance its debt, given its falling foreign exchange reserves and the size of its trade and budget deficits."

'via Blog this'

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