Ukrainians were Warned about "Double Blow" on the Country's Economy
OREANDA-NEWS. Ukraine pays off not only the loans it received, but also pays for the loans that it was not given. This was stated by the director of the Kiev Institute for Economic Development of Ukraine Alexander Goncharov.
On his Facebook account, the expert noted that, as a rule, states do not pay off their debts, but restructure them, serving only interest. He believes that it would be wise for Ukraine to serve only the interest on its loans.
He explained that Kiev not only returns the body of the loan along with interest, but also pays a penalty to the IMF for unselected tranches. The economist wrote that under the terms of the loan program with the Fund, the borrower - Ukraine - pays, in addition to interest on the tranches received, also a commission for not received.
According to him, in February of this year, the amount of payments to the IMF amounted to more than $ 213 million. At the same time, Goncharov noted that the rate on a loan from the IMF last year was 2.63% per annum, while the same indicator for Eurobonds was 7.2%.
The economist is confident that in the near future Ukraine will see a jump in interest rates on the Interbank market and a rise in the cost of loans. He also recalled that due to the rise in inflation, the key rate had to be raised to 6.5%.
The expert is sure that it is precisely here that a double blow will be dealt to the Ukrainian economy, investment activity and the banking system.
He explained that an increase in the interest rate, provided that foreign exchange reserves are spent, will lead to a decrease in the liquidity of the hryvnia. To this will be added a decrease in the amount of investment and capital outflow.