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Kiev hopes to launch direct talks with creditors "one of these days" — finance minister

Author: Ayre от 28.05.2015, 18:00
(голосов: 1)
Ukrainian Finance Minister Natalie Jaresko

Ukrainian Finance Minister Natalie Jaresko

KIEV, May 27. /TASS/. Ukraine hopes to launch direct negotiations with international creditors in the nearest days, Finance Minister Natalie Jaresko said on Wednesday.

"Hopefully one of these days the government will directly contact creditors," she said.

Kiev does not plan to reach agreements with western creditors on remission of part of its debt by June when the International Monetary Fund is to provide another tranche worth $2.5 bln. "I hope we will do it as soon as possible," Jaresko said.

Ukraine’s parliament last week approved a law granting the government the right to impose moratorium on foreign debts payments, including the $3 bln debt received from Russia in 2013.

According to Ukraine’s Prime Minister Arseniy Yatseniuk, the country has to repay a total of $30 bln worth of foreign debts in the next 4 years, and $17 bln worth of internal debts.

The IMF approved a $17.5 billion loan facility for Ukraine in March as part of the international aid package estimated at about $41 billion and intended for four years. Ukraine received the IMF’s first loan tranche of $5 billion in March and needs to restructure $15.3 billion in sovereign debt to private investors to qualify for the second installment.

Russia does not plan to participate in the Ukrainian debt restructuring program and expects Ukraine to repay its liabilities in December 2015.

Russia made a decision in late 2013 to invest up to $15 billion in Ukraine’s sovereign Eurobonds. Soon afterwards, Russia bought Ukraine’s first Eurobond tranche worth $3 billion with a two-year maturity and a coupon rate of 5% per annum and coupon payments every six months. Russia subsequently decided against investing the other $12 billion in Ukraine’s bonds.



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