The creditors ' Committee of Ukraine: debt relief Kiev? The road to nowhere

The special Committee of creditors of Ukraine told about the fact that the desire the cancellation of the external debt of Ukraine - the wrong path which will scare the Ukrainian investors, and the country cannot afford " such a situation in which it will be shunned ". About it they wrote in an open letter in the financial times.

The members of the Department note that " for a long time was invested in the economy of Ukraine, has invested in various governments and would continue to do so under the current President, who has successfully proved the reforms ".

From their point of view, "cutting" public debt " sends the wrong signal to international capital markets ", and Ukraine itself " can least afford this kind of situation in which it will be shunned ".

in addition, the letter runs, " Ukraine's problem had more to do With liquidity, but not With the level of debt ".

Creditors of Ukraine also resemble that of the national debt to $ 70 billion only 22 billion subject to restructuring, and that " the burden should be divided, not to shift it onto someone else's shoulders ".

the head of Ukraine Petro Poroshenko at the end of may signed a bill authorizing the government of Ukraine to establish a moratorium on payments on a small external debt obligations. In the list of similar obligations entered and Eurobonds purchased by Russia. Russia expects to receive another payment on the debt of Ukraine on June 22, non-payment will constitute a default, said Deputy Finance Minister Sergei Storchak.

before the Ministry of Finance of Ukraine said that he could not come to a common opinion With the Committee of creditors on the restructuring of public debt of the country. The Committee has the Eurobonds of Ukraine on 8, 9 billion dollars, the total foreign debt amounts to 70 billion dollars.

The IMF Executive Board in March blessed new program of financial assistance to Ukraine, providing for the allocation of Kiev Fund 17, 5 billion dollars, and all international creditors over four years - $ 40 billion, including the fifteen billion through debt restructuring. Then the Ukrainian authorities have initiated conversations With creditors on debt restructuring.


sections: Politics