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FINANCIAL RISK MANAGEMENT (Tables)
 12 Months Ended
Dec. 31, 2022
Disclosure of risk management strategy related to hedge accounting [abstract]  
Schedule of sensitivity analysis The following table demonstrates the sensitivity to a possible change in exchange rates against the U.S. dollar with all other variables held constant. Additional sensitivity changes to the indicated currencies are expected to be approximately proportionate. The table shows the effect on the Company’s profit before tax (due to changes in the value of monetary assets and liabilities, including foreign currency derivatives) and equity (due to application of hedge accounting or existence of quasi equity loans). The Company’s exposure to foreign currency changes for all other currencies is not material.
Effect on profit / (loss) before taxEffect on other comprehensive income
Change in foreign exchange rate against US$
10% depreciation
10% appreciation
10% depreciation
10% appreciation
2022
Russian Ruble(5)6——
Bangladeshi Taka(34)37——
Pakistani Rupee(15)17——
Ukrainian Hryvnia(1)1——
Other currencies (net)(1)1——
2021
Russian Ruble18(25)9(10)
Bangladeshi Taka(30)33——
Pakistani Rupee(3)4——
Georgian Lari(37)41——
Ukrainian Hryvnia(1)1——
Other currencies (net)(6)6——
Schedule of available facilities for liquidity risk
The Company had the following available facilities as of December 31:
Amounts in millions of transactional currencyUS$ equivalent amounts
Final availability periodFacility amountUtilizedAvailableFacility amountUtilizedAvailable
2022
PMCL - Term FacilityApr 2023PKR 40,000PKR 30,000PKR 10,00017613244
Amounts in millions of transactional currencyUS$ equivalent amounts
Final availability periodFacility amountUtilizedAvailableFacility amountUtilizedAvailable
2021
VEON Holdings B.V. – Revolving Credit Facility*Feb 2024US$1,250—US$1,2501,250—1,250
PMCL - Term FacilityJun 2022PKR 50,000PKR 10,000PKR 40,00028357226
TNS -Plus LLC - Term FacilitiesOct 2023KZT 4,000KZT 2,783KZT 1,217963
*During 2022 Revolving credit facility amount reduced to US$1,055.
Schedule of maturity analysis of financial liabilities
The table below summarizes the maturity profile of the Group’s financial liabilities based on contractual undiscounted payments. Payments related to variable interest rate financial liabilities and derivatives are included based on the interest rates and foreign currency exchange rates applicable as of December 31, 2022 and 2021, respectively. The total amounts in the table differ from the carrying amounts as stated in Note 16 as the below table includes both undiscounted principal amounts and interest while the carrying amounts are measured using the effective interest rate method.
Less than 1 year
1-3 years
3-5 years
More than 5 years
Total
As of December 31, 2022
Bank loans and bonds2,796 2,671 2,013 351 7,831 
Lease liabilities95 423 327 402 1,247 
Derivative financial liabilities
Gross cash inflows— — — — — 
Gross cash outflows— — — — — 
Trade and other payables1,087 — — — 1,087 
Other financial liabilities176 322 142 52 692 
Total financial liabilities4,154 3,416 2,482 805 10,857 
Related derivatives financial assets
Gross cash inflows— — — — — 
Gross cash outflows— — — — — 
Related derivative financial assets— — — — — 
Total financial liabilities, net of derivative assets4,154 3,416 2,482 805 10,857 
Less than 1 year
1-3 years
3-5 years
More than 5 years
Total
As of December 31, 2021
Bank loans and bonds1,050 3,200 3,652 1,393 9,295 
Lease liabilities545 1,111 763 751 3,170 
Derivative financial liabilities
Gross cash inflows— — — — — 
Gross cash outflows8 — — — 8 
Trade and other payables2,031 — — — 2,031 
Other financial liabilities120 144 21 15 300 
Put option liability over non-controlling interest16 — — — 16 
Total financial liabilities3,770 4,455 4,436 2,159 14,820 
Related derivatives financial assets
Gross cash inflows— — — — — 
Gross cash outflows— — — — — 
Related derivative financial assets— — — — — 
Total financial liabilities, net of derivative assets3,770 4,455 4,436 2,159 14,820