KIEV (Sputnik) — Ukrainian President Petro Poroshenko said on Sunday that Russia under no circumstances would be given more favorable conditions for the restructuring of the loan to Ukraine.
"Under no circumstances Ukraine will provide any benefits to the Russian loan. The Russian side had all the facilities needed to join the negotiations, we were open to express our positions," Poroshenko said at a press conference after talks with International Monetary Fund (IMF) Managing Director Christine Lagarde.
The Ukrainian leader urged Russia to decide before the year-end whether it participates in the restructuring of the Ukrainian state debt.
"The talks [on debt restructuring with the creditors' committee] have been held, there is no and will be no default. Russia should decide before the end of the year…whether it goes with commercial creditors or it holds a separate position…when it decides, Ukraine will also define its position," Poroshenko said.
Ukraine is experiencing a deep recession and high inflation amid the armed conflict between government forces and militia in the country's southeast, which started in April 2014.
On August 28, Kiev and its international creditors agreed to write down 20 percent of Ukraine's foreign debt.
Last week, Ukrainian Prime Minister Arseniy Yatsenyuk said it was unlikely that the country would default on its debt as the government has a plan to stabilize the economy.