UKRAINE IS ON THE BRINK OF BANKRUPTCY

According to the German newspaper Handelsblatt, Ukraine is at risk of bankruptcy again. The reason for this was the resignation of Jacob Smoly as the head of the National Bank of the country.

The former head of the National Bank commented on his quitting the post and explained that the bank was constantly under political pressure. As a result, Smoly wrote a letter of resignation, President Vladimir Zelensky dismissed him from his post.

The complexity of the situation is that Kiev needs to repay a decent debt to foreign creditors in a relatively short time.

Over the current year, the debts amounting to $ 17 billion have been refinanced for the country, and the deadline for paying this amount is already drawing to an end. The launch of Eurobonds, which were supposed to appear on the London Stock Exchange in July, has been cancelled due to the Smoly’s resignation.

Ukraine has been surviving only through material support provided by the International Monetary Fund for the last few years. According to experts, the resignation of a financial activist was a shock to President Zelensky, as well as a kind of act of distrust regarding the president’s reforms.

Earlier, the head of the Ministry of Finance of Ukraine Sergey Marchenko claimed that Ukraine was going to receive $ 3.5 billion from the International Monetary Fund under the new program, up to $ 1 billion from the World Bank, as well as more than 1 billion euros of macro-financial assistance from the European Union by the end of the year.