The Parliament of Ukraine adopted the law, which provides for the production of a new kind of securities - state derivative. This is one of the government package of laws that will give the possibility to restructure the state dog of the country and its partial write-off.

"The draft law envisages the introduction of a new kind of securities - state derivative that is placed by the state on international stock markets and reaffirms the commitments of Ukraine to make payments to the owner of the securities in the case of achieving certain indicators of the gross domestic product of Ukraine ", - is written in an explanatory paper to the document.

it is planned that the public issuance of derivatives will form part of the budget process and is not subject to regulation by the National Commission on securities and stock market. Appropriate decisions about the placement of the state derivatives and their placement will be taken in Accordance with the budget code of Ukraine and other legislative acts.

The Cabinet first approved the provisional rules for the restructuring of the external public debt of Ukraine, which were made on the results of talks in Kiev with the creditors ' Committee. Under these arrangements, Kiev will write off 20% of the nominal debt - 3, 6 billion of the 18 billion dollars. To complete the legal procedures of restructuring the Parliament is obliged to adopt a package of relevant laws. In response to concessions creditors Ukraine will issue fresh shares, linked to indicators of increasing GDP.

according to the mechanism, the creditors will not receive any payments if Ukraine's economy will grow slower than the 3% per year. While GDP growth from 3% to 4% per year, creditors will receive 15% of the amount exceeding 3% of GDP. The tool will only take effect in 2021 and will be used for 20 years. Ukraine will not make payments on the instrument, while its GDP will not be more than 125, 4 billion (such amount of Ukraine's economy, according to IMF forecasts, will reach to 2019).

sections: Politics