LAW OF UKRAINE

of September 16, 1992 No. 2604-XII

About the public internal debt of Ukraine

Article 1. Concept of the public internal debt of Ukraine

The public internal debt of Ukraine are urgent debt obligations of the Government of Ukraine in cash.

The public internal debt is guaranteed to all by the property which is in nation-wide property.

Article 2. Structure of the public internal debt of Ukraine.

The loans of the Government of Ukraine and loans performed in case of unconditional guarantee of the Government for ensuring financing of nation-wide programs are part of the public internal debt of Ukraine.

The public internal debt of Ukraine consists of debt of last years and the debt which is again arising on debt obligations of the Government of Ukraine.

Article 3. Debt obligations of the Government of Ukraine

The securities issued by it, other obligations in cash guaranteed by the Government of Ukraine, and also the credits obtained by it belong to debt obligations of the Government of Ukraine.

Debt obligations of the Government of Ukraine also the part of debt obligations of the Government of the former USSR assumed by Ukraine is included.

Article 4. Types and forms of the public internal debt of Ukraine

Debt obligations of the Government of Ukraine can have short-term - till 1 year, medium-term - from 1 to 5 years and long-term - 5 and more years term.

Debt obligations of the Government of Ukraine act in the form of bonds of internal state loans and treasury obligations of Ukraine.

In some cases there can be also other forms of government debt obligations. Nature and conditions of such obligations in each case are determined by the Government of Ukraine in coordination with the National Bank of Ukraine.

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