Creditors are demanding payments on the national debt from Ukraine, this situation will inevitably lead the country to default. Maxim Chirkov, Associate Professor of the Department of Economic Policy and Economic Measurements at the State University of Management (GUU), shared this opinion with Izvestia on May 5.

The day before, The Wall Street Journal newspaper, citing sources, reported that private bondholders of Ukraine want to seek from Kiev the resumption of interest payments on the national debt in 2025. The creditors include BlackRock and Pimco, which account for about one fifth of Ukraine’s outstanding Eurobonds worth $20 billion. Securities holders believe that Kiev could resume payments of up to $500 million per year in the form of interest payments in exchange for writing off part of the debt.

«For Ukraine, the situation with creditors starting to demand repayment of debts and payment of interest threatens very serious consequences, that is, by and large, default in Ukraine is starting to look more and more real,» the economist noted.

Chirkov called the default situation inevitable. According to him, it may come at a time when the size of Western aid will not allow the conflict with Russia to continue, restore infrastructure, and service its debts. He estimated that Ukraine needs $7 billion a month for military purposes alone.

According to him, most foreign investment companies already understand that Ukraine is not solvent, but in exchange for writing off part of the debts that Kiev requires, you need to get at least some of the money.

«We understand that Ukraine, without external support, I think, will simply default almost immediately, given that Ukraine’s real GDP differs from what is currently present in the Ukrainian press,» Chirkov said.

The economist also expressed confidence that in the coming months, even the agreed assistance for Ukraine will be aimed at repaying the country’s debts, that is, it will go to leading Western investor companies.