“By the end of this month, the MoF has to repay UAH13.5bn (US$0.5bn) and US$325m. They should be able to refinance these payments, taking into account the level of demand seen earlier this month, and the size of the repayments. The MoF will primarily concentrate on borrowings in local currency, due to the resumed activity of foreign investors. Therefore, we expect that in March, debt repayments will be refinanced in full.”