Ukraine and the Committee of creditors of the country, is expected this week will begin negotiations for the restructuring of Ukrainian debts. Kiev as part of a plan of debt repayment has asked creditors to write off 40% of the principal amount of the debt and accept a fresh bond linked to future economic performance.
However, preliminary discussions On the restructuring until not successful, Kiev sent creditors a few suggestions and did not exclude, If necessary, the imposition of a moratorium on the payment of foreign debts.
at the end of June the Minister of Finance of Ukraine Natalie Jaresko said that according to the calculations of a country may declare a default at the end of July. But then during the trip to Lviv, she said that the media misinterpreted her message.
About consensus to hold a dialogue on the merits of the Ukrainian Finance Ministry said July 1 following the visit of the Ukrainian delegation to the headquarters in the U.S. capital.
it was said that the dialogues, the exact date of which is as long as unknown, will take place at the level of Minister of Finance of Ukraine Natalia Jaresko and creditors. Along with this later on the Internet office of the Ministry of Finance this statement was corrected, the Minister of Finance in the information About the negotiations is no longer.
the press service of the Ukrainian Finance Ministry Last news confirmed that they had amended the statement, As the level of Kiev's participation in these negotiations has not yet been Appointed. To the question about whether to participate in them it is the Finance Minister Jaresko, the press service said: "it will be dealt with ".
As is known, Jaresko said earlier that ready to meet with the creditors ' Committee after the conclusion of the contract On confidentiality. Just by this agreement in respect of confidentiality - the Parties and came to the meeting on 30 June.
Then Washington went Ukrainian delegation headed by special Commissioner for issues of debt Vitaly Lisovenko. According to Kiev, the meeting provided an opportunity for productive exchange of views between its members according to the macroeconomic indicators of Ukraine and technical aspects of the anticipated debt transactions. The parties have agreed to dialogue in the spirit of fairness, "without preconditions" and to achieve agreement about the terms of a debt liability operation as soon As possible, reported the Ukrainian Ministry of Finance. Before itself Jaresko said that When confidentiality is ready to meet with the creditors without any conditions.
General state dog of Ukraine is about 70 billion dollars, of which about $ 40 billion foreign debt. Ukraine in the framework of the plan of debt repayment has asked creditors to write off 40% of the principal amount of the debt and accept a fresh bond linked to future economic performance.
The government planned to restructure 22-23 billion loans provided by private lenders, referring to this amount and the debt before the Russian Federation Eurobonds of 3 billion.. While Kiev was calculated according to the results of restructuring to reduce costs in four years, fifteen. 3 billion dollars.
Ukrainian authorities sent creditors a few suggestions and did not exclude, If necessary, the imposition of a moratorium on the payment of foreign debts.
However, the creditors ' Committee headed by Fund Franklin Templeton uniting holders 8, 9 billion dollars of debt, didn't want to go on the proposed rules of Ukraine, which in addition to lower interest payments insisted on writing off part of the loan. Kiev responded by sending creditors edited that last sentence. According to the head of the Ministry of Finance, lenders 3 month refused to hold substantive dialogue about the context of debt operations.
The creditors ' Committee of Ukraine said that he would insist on changing the terms of the agreement of the Ukrainian government and the IMF on debt restructuring fifteen, $ 3 billion taking into account the wishes of the Department. According to the information of creditors and their offers promise Ukraine in the future, more investment and allow Earlier return to the capital market.
Reaching agreements with private creditors is one of the conditions for continued provision of assistance from the IMF on 17, 5 billion dollars funds and other international lenders. Along with this, the IMF has already assured that he will continue to allocate the funds Kiev, despite the results of the negotiations with creditors.