Source: Help Ukraine in its debt, it may become a precedent

Continued assistance to Ukraine in line with international monetary Fund in the amount of 17, 5 billion in case of its failure to pay June 20, Russia coupon on Eurobonds ($75 million) may become a precedent for other countries, said a source familiar with the negotiations Fund with Ukraine and Russia.
"The continuation of the program and respect the Russian commercial debt will be a precedent in the practice of the IMF, after which other countries, Greece, for example, also have the opportunity to demand the right not to pay creditors, for example, Germany," - said the source RIA " Novosti ".
The IMF was subjected to sharp criticism from the public when allowed commercial lenders to Greece to impose a ban on assistance from the Fund. In the end, the speculators bought from the market debt of the country is much below par, and after received 100% of it due to the received support that was supposed to go to the reconstruction of the economy. Now the rules have changed, and arrears on commercial debt is not a basis for termination of the assistance programme, explained the source. According to the interviewer, Authorized the IMF assured many times by the Russian Federation that these Eurobonds of Ukraine - the national Debt." The debt to Russia is Clearly the official, the money was granted on highly concessional terms, the Eurobonds were redeemed at par, at a Time when the risks were high, and the chart on the speculative level. Just for the ransom was selected commercial instrument - Irish exchange ", - he said. But the fact that the Ukrainian authorities that work closely with the IMF mission in Kiev, turned on Russian bonds in the commercial list of debts is alarming, he said." The moment of truth will be June 20. If Ukraine pays a coupon, it recognizes the Debt of the state. If they are this payment is not paid, it for 10-14 days comes the default. If the Fund stops the program of assistance to Ukraine, he acknowledges the Debt owed to the Russian sovereign. If not, it will be necessary to change the rules of the Fund and take advantage of them then you will be able, not only to Ukraine ", - added the story source. He also did not rule out and other developments." The IMF program can get up earlier, because the program requirements are already broken only by the deepest economic recession, inflation April to April, 60 per cent, " he finished. Recall, the Verkhovna Rada of Ukraine adopted a law that will give the ability to suspend payments on restructured debt. The Russian President Vladimir Putin called the decision of Kiev weird. In his vision, the Declaration on the fact of default suggests a low level of professionalism. Also, according to Putin, Russian banks have loan portfolios to Ukraine in the amount of 24-25 billion. Prime Minister Medvedev D. A. Also explained the actions of the Rada. According to him, such decision is, really, a Declaration of default at the same time with the Declaration of force majeure on debt. For its part, the Finance Minister of Russia Anton Siluanov said that Moscow will turn to international court If the head of Ukraine Petro Poroshenko will sign the law on the moratorium on the payment of foreign debts.


sections: Politics