The deadline for concluding an agreement between the government of Ukraine and the lenders have presumably mid-August, says the Agency.

Time payments on Ukrainian Eurobonds occurs on September 23, but the restructuring agreement must be signed at least five or six weeks before this date to give the group of creditors Time to convince bondholders to agree to fresh rules to amend and gradually finish the exchange bonds. Even with the 10-day grace period on principal payments to five hundred million dollars really the Final term of the contract falls somewhere in the middle of August.

If the agreement will not be reached in time, Ukraine may face the need to freeze debt payments. This will enable the bondholders to initiate legal actions against Ukraine And their number includes Russia, which owns a debt of 3 billion dollars and claiming that it ought to pay off in early winter. Apparently, the contract will also need to conclude before the international monetary Fund will give Ukraine the third part of a loan at 17, 5 billion.

"at the stage of implementation there are a number of risks, said Wednesday by e-mail analyst at Exotix Partners Jacob Christensen.- Offer have the opportunity to reject, at its meeting of bondholders, demanding a new vote, someone may refuse to sign. And the filling concrete proposals will take Time ".

Ukraine and the creditor group of 4 members headed by Franklin Templeton agreed to direct negotiations only July 1 - after a two-month standoff on the issue of partial retirement to the nominal value of 19 billion of Eurobonds.

Ukraine may also ask about the extension of the maturities on the debt with payment in September 2015 to get more time on the implementation process." ideally, If in the next few days or weeks will be a breakthrough in the negotiations on the performance of the contract would still be time enough, " said the first day of the week on the phone with the chief, Director of research of the Vienna branch of Raiffeisen Bank international AG g?nter Deber.- And on the other the risk of a moratorium will remain.

sections: Politics