September 18, 2017 / 12:06 PM / in 9 months

Ukraine government sees 2018 external borrowing at $3 billion

KIEV (Reuters) - Ukraine plans to borrow around $3 billion on external markets in 2018, a government report said on Monday, without indicating what form the loans would take.

Kiev is returning to international capital markets this month its first bond issue since a 2015 debt restructuring. It has also carried out a $1.57 billion debt swap to lighten its short-term debt servicing burden.

As part of a $17.5 billion program from the International Monetary Fund, Kiev is expected to regularly tap international financial markets through selling hard-currency denominated bonds.

The latest report, published on the parliamentary site with the 2018 budget draft, said Ukraine expects to borrow 215 billion hryvnias next year, including 91.2 billion hryvnias on the external market.

It said the debt calculations were made using a forecast rate of 30 hryvnias to the U.S. dollar by end-2018.

The hryvnia is currently trading at 26.2 to the dollar.

Reporting by Natalia Zinets; Writing by Alessandra Prentice; Editing by Richard Balmforth

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