Yaresko: Kiev must come to a consensus on the restructuring of debts by June

MOSCOW, 24 Mar RIA Novosti/Prime. Ukraine needs to come to a consensus with international creditors on debt restructuring before the end of may, and investors have already realized the need to revise the payments, said the Finance Minister of the country Natalie Jaresko.

A new credit facility from the IMF to Ukraine, replacing stabilization program stànd by, provides for the allocation of Fund 17, 5 billion dollars, and all international creditors in four years - USD 40 billion, including fifteen billion dollars through debt restructuring. Dialogues with creditors on debt restructuring of the Ukrainian authorities began March 13. In may-June will be another test run of Kiev of the new conditions of the IMF program.

"Ukraine should reach agreement on the restructuring of its debt by the end of may," Jaresko said in the conversation. She also expressed hope that the Russian Federation will join the negotiations on debt restructuring.

Ukraine has already received 1st tranche under the new IMF program in the amount of 5 billion dollars in 2015 it is expected to allocate 10 billion.

The largest holders of Ukrainian Eurobonds are the investment Fund Franklin Templeton (2013 received 7 billion of Ukrainian external debt, or about a quarter of all notes) and the Russian Federation ($3 billion maturing before the end of 2015).

Deputy head of the Ministry of Finance of the Russian Federation Sergei Storchak on March 17, stated that the IMF program for Ukraine debt restructuring involves only private sector debt to Russia at $ 3 billion in this category misses, Russia still expects repayment of the debt at the beginning of winter.


sections: Politics