The Minister of Finance of Ukraine did not rule out default on its debt in July

Ukraine May not perform payments on the bond coupons and in July will be in default, says the Minister of Finance Natalia Jaresko.
"it could be, you know that (19 may allow you to suspend payments on restructured their external debt obligations) act was passed by the Verkhovna Rada ", - said Jaresko, explaining the reported announcement by Kiev in July of default due to the inability of payments on the next coupon, RIA " Novosti ".
Ukraine is unlikely in the next few weeks will settle disputes with creditors on debt repayment, and May declare a moratorium before the delayed coupon payments on July 24, wrote in a research note Andrew Matheny from Goldman Sachs." Ukraine will not pay coupon payments on 24 July, and in the end, at this point it will be in default, " writes Bloomberg opinion. First on Thursday, the creditors ' Committee did not agree with the initiative of the IMF to restructure its debt of Ukraine at fifteen, $ 3 billion. General state dog of Ukraine is about $ 70 billion, of which about $ 40 billion foreign debt. Yesterday, Moody's suggested Ukraine a way to reduce costs fifteen, $ 3 billion without debt cancellation. Along with this, the IMF became aware of belonging to Russia Ukrainian bonds public debt. In that case, if this expert opinion will be supported by the IMF Executive Board, belonging to Russia, the bonds will be excluded from the restructuring in the framework of the ongoing negotiations. June 16, Kiev acknowledged the debt to Russia in $ 3 billion on a par with any other Eurobonds. The Minister of Finance of Ukraine told that the purpose of restructuring of Ukrainian debts is to achieve three key objectives - the level of public debt is not more than 71% of GDP, an improvement of the balance of payments and bringing the number of required external payment by 2019 at the level of not more than 10-12%. On may 19, the Verkhovna Rada of Ukraine adopted the law that will give the ability to suspend payments on restructured debt.


sections: Politics