Ukraine’s Sovereign Debt Fell 0.7% in May, Finance Ministry Says

Ukraine’s debt, including state guarantees, fell 0.7 percent in May as the government repaid some foreign and domestic credits, the Finance Ministry said.

Sovereign debt declined to $57.8 billion as of May 31 from $58.2 billion a month earlier, the ministry, based in the capital Kiev, said late yesterday in a statement on its website.

Domestic debt eased to $19.17 billion from $19.22 billion at the end of April, the ministry said. Obligations to foreign creditors fell to $24.1 billion from $24.3 billion, according to the statement.

Ukraine’s state debt rose 6.4 percent in the first five months of 2011 as the government sold Eurobonds and domestic bonds to cover the budget deficit and as the hryvnia weakened against foreign currencies.

Source: Bloomberg