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Kyiv to increase debt in early 2024

Photo by Oleksandr Khomenko/NurPhoto via Getty Images
Photo by Oleksandr Khomenko/NurPhoto via Getty Images
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Ukraine will need to increase its domestic market borrowing to get through January-February 2024 due to a lack of financial support from partners, the finance minister said on Thursday.

“Unfortunately, in January and February, the decisions taken by the partners are not enough so that we can cope on our own. That’s why we have a Plan B mechanism in force now,” Serhiy Marchenko was quoted as saying by the Interfax-Ukraine agency.

Apart from borrowing, it includes advanced payments of dividends of state-owned companies.

Kyiv managed to reduce its 2024 external financing needs from an initial USD 41 billion to USD 37.3 billion following measures to maximize budget revenue, activate the domestic debt market and reduce capital expenditure.
Source: Reuters
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