23 August 2022, Tuesday, 09:59 134

Since war start, government bonds repayments exceed borrowings by UAH 43.6 billion

Редактор: Roman Vaniyan

Since the start of Russia's full-scale war against Ukraine, the amount of money paid by the government to repay government domestic loan bonds has exceeded the amount of funds raised to the state budget at auctions for the sale of government bonds by UAH 43,629.8 million.

That follows from the data of the National Bank of Ukraine depository, reports Ukrainian News Agency.

In particular, in the period of February 24 – August 21, 2022, the government allocated UAH 131,778.3 million, USD 1,539.4 million, and EUR 168.0 million to repay government bonds, and raised UAH 98,660.9 million, USD 908.7 million, and EUR 384.3 million from the placement of new domestic debt instruments at auctions.

Since April, the volume of funds received by the government at auctions from the sale of government domestic loan bonds was lower than the amount of repayments for the corresponding instruments.

In particular:

- in April, the negative balance of the government's internal debt operations amounted to UAH 2,850.5 million;

- in May – UAH 411.0 million;

- in June – UAH 20,997.2 million;

- in July – UAH 17,095.7 million;

- from the beginning of August – UAH 12,940.4 million.

Over the past week, the yield on Government bonds placed at auctions did not change.

In general, during the martial law, the Ministry of Finance increased the rates on hryvnia-denominated Government bonds placed for 6, 12, and 14 months (to 12.0%, 14.0%, and 16.0% per annum, respectively), as well as the rates on dollar-denominated Government bonds by 3, 6 and 12 months (up to 3.5%, 4.0% and 4.5% per annum, respectively).

The yield on hryvnia-denominated government bonds placed for 3 months has not changed since the beginning of the full-scale war and was from 9.5% per annum, as well as on military government bonds denominated in euros (2.5% per annum for all maturities).

As of August 22, 2022, the largest portfolio of relevant securities is traditionally 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 13,339.7 million (14.8% of the total volume of purchased military government bonds denominated in hryvnias);

- USD 176.2 million (20.4% of the total volume of military bonds denominated in dollars);

- EUR 145.0 million (51.4% of the total volume of government bonds denominated in euros).

Military bonds worth more than UAH 1,349.7 million and USD 2 million dollars 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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