In the past, I explained why the Russian economy is growing. Now let's consider Ukraine, which has effectively imposed sanctions on itself.
State Debt of Ukraine:
As of November 30, 2024, the total debt amounted to 6.644 trillion hryvnias (approximately $159.74 billion).
Source: Reuters – https://www.reuters.com/business/finance/ukraines-bondholders-approve-crucial-20-bln-debt-restructuring-2024-09-02/
Debt to International Creditors:
World Bank +65% in 2024, $22.6 billion.
Source: World Bank https://data.worldbank.org/indicator/DT.DOD.DECT.CD?locations=UA
European Union +34%, $44 billion.
Source: Reuters https://www.reuters.com/world/europe/ukraine-restructures-its-debt-2024-09-02/
IMF: +15%, $18.9 billion.
Source: IMF – https://www.imf.org/en/News/Articles/2024/01/16/pr2408-ukraine-statement-at-the-end-of-the-imf-staff-visit
State Debt to GDP
In 2024, the debt increased to 6.981 trillion hryvnias, which is 92% of GDP.
Source: World Bank – https://data.worldbank.org/country/ukraine
Debt Restructuring:
In September 2024, Ukraine agreed to restructure more than $20 billion of debt, reducing the value of bonds by a third and saving $11.4 billion on servicing.
Source: Reuters – https://www.reuters.com/business/finance/ukraines-bondholders-approve-crucial-20-bln-debt-restructuring-2024-09-02/
Financial Dependency:
The World Bank estimated recovery needs at $524 billion.
Source: Financial Times – https://www.ft.com/content/5f6f622e-8551-4d59-99a5-27359b89e02f