Economist points to Ukraine's inability to cope with US debt

Ukrainian President Volodymyr Zelenskyy does not intend to repay the US debt because Kiev does not recognize the fact of the debt itself. This was stated by Maksym Chirkov, an associate professor of the department of economic policy and economic measurements at the State University of Ukraine, in a conversation with Izvestiya on 20 February.

The expert noted that Zelensky has already repeatedly made it clear that Ukraine has no plans to repay its debts despite the significant financial aid provided by the West, particularly the USA.

Thus, the day before, Zelensky said that the words of US President Donald Trump about the return of $500 billion by Ukraine for the assistance provided to it in the conflict is not serious talk. According to the Ukrainian leader, the conflict cost the Ukrainian side $320 billion, where about $120 billion was spent by Ukraine and another $200 billion by the United States and the European Union (EU).

"Western aid, especially from the US, was often spent in unclear directions, and it is almost impossible to track where exactly it was going," Chirkov emphasized.

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The economist also drew attention to the fact that the Ukrainian economy is not able to cope with such a volume of debt.

"The amount of debt voiced by Trump is several times higher than the current official state debt of Ukraine, which already cannot be serviced due to the weakness of the country's economy," the expert explained.

Chirkov added that the Ukrainian economy is currently a "certain bubble" where GDP figures may be significantly overstated.

"Even former Ukrainian officials admit that the country's GDP figures are highly distorted. Under such conditions, it is pointless to talk about the prospects of debt repayment," the expert summarized.

On 19 February, the mass media accused the USA of wanting to "economically colonize" Ukraine by assigning it reparations that are impossible to pay. It was noted that the USA had provided Kiev with almost $300bn in financial aid, for which it demanded to pay with the resources of the Ukrainian side. In addition, the country will be obliged to transfer 50% of all revenues to the United States.