Ukraine's Foreign Debt in Facts and Details

The deadline for the payment of Ukraine's $3-billion sovereign loan to Russia expires on Sunday, December 20.

MOSCOW (Sputnik) – Russia issued a $15-billion loan to Ukraine in December 2013, having bought $3 billion-worth of Ukraine's Eurobonds. The rest of the loan was cancelled following a coup in Ukraine in February 2014.

Below is a guide on the structure of the external debt of Ukraine.

Ukraine's foreign debt, which includes government and government guaranteed loans, amounted to $35.5 and $10.9 billion respectively, coming to a total of $46.5 billion as of September 30, according to the Ukrainian Finance Ministry.

Ukraine's gross foreign debt, which includes private external debt, amounted to $127 billion by July 1, which amounts up to 122.8 percent of the country's GDP, National Bank of Ukraine data showed.

This year alone, Ukraine is liable to return almost $11 billion of its debts, according to the country's Prime Minister Arseniy Yatsenyuk.

Last year, the Ukrainian government borrowed approximately $9 billion in financial assistance loans from foreign creditors. This included the International Monetary Fund (IMF) loan of $4.6 billion, a $1.1 billion loan from the European Union, a $1.2 billion loan from the International Bank for Reconstruction and Development (IBRD) and US-guaranteed one billion hryvnia ($42.4 million) Eurobond loan, a 1.6 billion euro ($1.7 billion) loan from Germany, a $179 million loan from Canada and a $96 billion loan from Japan.

At the same time, Ukraine continued to be $4.7 billion in debt to Russia since the start of 2015, which now amounts to 12.2 percent of the country's gross foreign debt, according to the Ukrainian Finance Ministry. Of this, $3 billion was borrowed in Eurobonds, which mature in December, while another $605.9 million remained outstanding as part of the 1997 Partition Treaty on the Status and Conditions of the Black Sea Fleet.

As per September 30, Ukraine's other outstanding foreign debt to governments amounted to $298.7 billion to Canada, $7.8 billion to Germany, $10.4 billion to the United States and $234 million to Japan. Debt to international financial institutions amounted to $2.5 billion to the EU, $585.4 million to the European Bank for Reconstruction and Development (EBRD), $485 million to the European Investment Bank, $5.2 billion to the IBRD, $5.6 to the IMF and $667.9 million to the Clean Technology Fund. Government guaranteed loans amounted to $195 million to Canada, $21.7 million to the European Atomic Energy Community, $80 million to the EBRD, $368.2 million to the IBRD and $5.4 billion to the IMF.

The major private investor into Ukraine's sovereign Eurobonds is the New York-based Franklin Templeton Investments company. In August 2013, the company purchased $5 billion worth of Eurobonds from Ukraine, which came to 20 percent of the country's foreign debt. Other major private investors are Goldman Sachs, Wellington Managment Group, Fidelity International, Allianze SE, AVIVA Funds and Nomura Asset Management. Altogether, they are holders of $8.9-billion Ukrainian bonds.