The Finance Ministry has called force majeure violation of obligations by Ukraine on the level of public debt

Violation by Ukraine of the Covenant by the ratio of government debt to GDP, which gives the right to demand early repayment of Eurobonds 3 billion billion, is the result of force majeure, said the Deputy head of the Russian Ministry of Finance Sergei Storchak.
"Our guide said that the covenants associated with debt-to-GDP ratio, we are not going to apply. Everything on earth go, Everyone understands that force majeure. Fix the hryvnia has completely changed the model calculation. The entire currency debt jumped on order, " said Storchak, quoted by the news Agency ". First Minister of Finance of the Russian Federation Anton Siluanov said that since Ukraine has excessive public debt above 60% of GDP, Russia has the right to demand early repayment of the loan of $ 3 billion, but the solution until it is not accepted. The Russian Prime Minister Medvedev D. A. also said that Moscow does not want the default of Ukraine, but for the debts to be paid. By the end of 2013 the Russian Federation and Ukraine signed a number of common documents, suggesting that Moscow will infuse the economy of neighboring countries fifteen billion dollars through the purchase of Ukrainian securities. Received 1st tranche in the amount of $ 3 billion with a maturity of two years with a coupon rate of 5% per annum Kiev sent on social payments.


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sections: Politics