Igor Mazepa: Will Ukraine be able to pay its debts without IMF money?

Investment banker Igor Mazepa, the CEO of Concorde Capital, discusses whether Ukraine will be able to pay its debts without IMF assistance.

“Ukraine is handling its foreign-currency debts without the IMF so far”, assumed Igor Mazepa. “Already in March 2020, Ukraine faces its first peak payment this year on its foreign debt. About USD 400 mln needs to be returned to the IMF, and another USD 530 mln to Eurobond holders. In May, we have slated a payment of USD 1.5 bln, including USD 1 bln in Eurobonds issued under U.S. state guarantees. For September, another USD 2.3 bln is slated, including USD 1.9 bln in Eurobond payments. Peak payments on local bonds are planned for the summer – the equivalent of about USD 760 mln in July and USD 474 mln in August” – says Igor Mazepa.

“We in Concorde Capital believe that without IMF assistance, attracting foreign currency from other sources will be difficult, not even taking account Ukraine’s solid positions in the eyes of investors at the current moment” – summarizes Igor Mazepa.