ANALYSIS OF THE PUBLIC DEBT OF UKRAINE FOR 2022

Анотація

The article analyzes the state of Ukraine's national debt in 2022 in the context of the impact of the military conflict with Russia on the country's economy. The dynamics of external and internal debt, the structure of debt by sources and currencies, as well as the problems associated with the decrease in Ukraine's credit rating and dependence on external financing are considered. Its impact on the overall picture of Ukraine's national debt at the present stage is presented and examined, as well as its impact on the country's economy. The sources of borrowing are described, including Eurobond loans and loans from international financial corporations. Graphically presented are the external state and state-guaranteed debt of Ukraine, funding sources, and the structure of external borrowing and grants received since the start of the full-scale invasion in 2022. The agreements of the Government with international partners and memoranda of understanding regarding the suspension of debt payments with international partners in the G7 and Paris Club are considered. A comparison has been made with the 2021 figures of the total amount of Ukraine's state and state-guaranteed debt, as well as a comparison of the domestic state debt and the external state debt, which consists of loans from international financial organizations and Eurobonds. The main source of financing for the state budget in 2022 has been analyzed. The calculations by the Kyiv School of Economics in relation to the large external borrowings for 2023 have been described. The agreements of the government regarding grants and loans have been considered, which are an effective tool to ensure the financial stability of the country in the conditions of war, which is the main source of the most extensive imbalances, and where they have been directed for financing. The accumulation of the state debt and the steep decline in nominal GDP in 2022 have been described, and what it has led to. Additionally, data on the state debt for 2022 in foreign currency equivalent, hryvnia equivalent, the ratio of the state debt to GDP, and the share of the state debt in foreign currency have been provided.

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