Since the beginning of Russia's full-scale attack on Ukraine, the amount of funds paid by the Government of Ukraine for the repayment of domestic debt instruments have exceeded the amount of funds raised to the state budget at auctions for the sale of government domestic loan bonds by UAH 34,128.5 million.
That follows from the data of the National Bank of Ukraine depository, reports Ukrainian News Agency.
Thus, during the five months of the full-scale war, the government allocated UAH 105,798.4 million, USD 1,539.4 million and EUR 168.0 million to the repayment of government domestic loan bonds.
At the same time, about UAH 87,759.6 million, USD 858.7 million, and EUR 283.4 million were raised from the placement of new debt instruments on the domestic market.
If in March, the amount of funds received by the government at auctions from the sale of government bonds exceeded the amount of repayments for these instruments by UAH 10,664.8 million, then the balance of the government's internal debt operations became negative.
In particular:
- in April, the amount of repayments of domestic debt instruments by UAH 2,850.5 million exceeded the amount of borrowings at auctions for the sale of government bonds;
- in May – by UAH 411.0 million;
- in June – by UAH 20,997.2 million;
- from July 1 to 24 (inclusive) - for UAH 20,534.7 million.
At the previous auction for the sale of war bonds, which took place on July 19, 2022, the Ministry of Finance started raising rates on hryvnia-denominated government bonds - rates on annual hryvnia bonds increased to 14%.
At the same time, the yield on the remaining hryvnia bonds did not change and amounted to 9.5%, 10% and 11.5% per annum for papers with a maturity of 3 months, 6 months and 1.5 years, respectively.
The interest rates on dollar military government bonds have been increased since July 12 to 3.5%, 4.0% and 4.5% per annum (repayment terms – 3 months, 6 months and 1 year, respectively).
On the other hand, the yield of military government bonds denominated in euros has not changed since the beginning of the full-scale war and is 2.5% per annum (maturity - 3 months, 9 months and 1 year).
As of July 25, 2022, the largest portfolio of relevant securities is held by banks - primary dealers.
The second in terms of volume is the portfolio of military bonds, concentrated by citizens and businesses of Ukraine.
It consists of:
- UAH 12,086.2 million (14.1% of the total volume of acquired military government bonds denominated in hryvnias);
- USD 167.7 million (19.4% of the total volume of military bonds denominated in dollars);
- EUR 136.6 million (48.6% of the total volume of government bonds denominated in euros).
Military bonds worth more than UAH 1,401.8 million are owned by non-residents.
As reported by Ukrainian News Agency, on March 22, 2022, the National Bank began publishing statistics of the NBU depository on military bonds on a weekly basis.
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