The IMF will discuss the reform that can not help Kiev to pay the debt of the Russian Federation

The Board of Directors of the international monetary Fund (IMF) will discuss on Tuesday the issue of changing the rules of lending organization borrowers who default on sovereign debt, the agenda for the meeting, posted on its Internet representation.

Discussion of this document at the present time the majority of experts link the threat of default of Ukraine on Russian debt in 3 billion dollars and the desire of the Foundation to save her. Although the official position of the IMF says that the idea of carrying out this reform is not 1st year.

Russia has stated that he does not want to restructure the Ukrainian Eurobonds for $ 3 billion, the period of redemption which is the end of December 2015. For this reason, the rule proposes approval of its default on sovereign debt, if it in good faith, But unsuccessfully tried to hold conversations with lenders.

the Russian authorities it was stressed that Ukraine did not come out to them, even with the initiative to hold dialogues, not to mention the fact that at least one of these rounds of negotiations were held.

However, despite this, Moscow has made concessions and made the offer to over the debt by 1 billion a year, starting in 2016. But the expectation that international institutions such as the IMF, world Bank, ECB, the US or the EU guarantee performance. On the first day weekend the Russian Ministry of Finance said that North America did not want to give guarantees on this debt.

The Ukrainian government until not told neither " Yes " nor " no " on the proposal of the Russian Federation. The IMF first of said Fins news that awaits the outcome of negotiations of the authorities of the 2 countries.

anyway, if the reform of the IMF will be held before the proposed date of default of Ukraine and the Director agrees to apply to her first contract, Russia will lose the sovereign right of the creditor to stop the country's finances by the Fund due to the insolvency of the program. Consequently, the dialogue on restructuring will not be so vital for Ukraine. For this reason, the source of the Last news the Fund has not excluded that the initiative of the Russian Federation has the opportunity to be ignored and the only solution will be a transition case in international court.

However, as before said Deputy Finance Minister Sergei Storchak, the beginning of judicial procedures debt of Ukraine to Russia may greatly complicate the return of Kiev to the international financial market borrowings.


sections: Politics