In 1999 Ukrainian government debt exceed critically level of 60% of Gross Domestic Product (GDP) : $15.3 Bn.
In 2002 ,Ukraine refused credits from IMF. From the end of 2004 cooperation with international finance institutions was limited by consulting and technical support. New credit programs were not taken until 2008.
In 2004, world leading rating agencies raised Ukraine’s credit rating to “B -”B+” with stable and positive forecast.