Financial times: Creditors agreed to write off Ukraine 20% of the debt

British print edition of the financial times argues that international creditors Ukraine agreed to restructure the debt of Kiev for the expense of writing off 20% of the total size of a country's debt obligations.
"This write-off is the latest offer on the table of negotiations (between the creditors and the Ukrainian authorities), as long as both sides attempt performance plan IMF for a rescue of the country by reducing debt (Kiev), are owned by private lenders, $15 3 billion over the next 4 years," - emphasizes the print edition, the news Agency.
the article said that " no deal until not signed, but the proposal in itself indicates that both parties want to achieve unverified consensus to ensure the conclusion of the contract, which specifies a source close to the negotiations may take place this week." As informs the British magazine, two weeks ago Authorized official Kiev went to the dialogues in San Francisco, where the headquarters of the largest holder of Ukrainian Eurobonds and investment organization Franklin Templeton. Print edition claims that the Ukrainian side insists on the cancellation of the sum of twice the proposal by the creditors, i.e. 40% of the size of its public debt. On the first day of the week it was declared that the Ukrainian government neared agreement with its creditors on debt restructuring. On August 5, the Ministry of Finance of Ukraine said that the country's authorities in the event of failure of the negotiations considering the use of alternative payment mechanisms in the framework of its cooperation programme with the main creditor of the country ? international monetary Fund. On the same day stated that the creditors ' Committee of Ukraine, with Kiev which conducts dialogues about the restructuring of debt considered invalid new proposal of the Ukrainian authorities. On 1 August it was announced that the deadline for the conclusion of the agreement between the Ukrainian government and the creditors have not at the end of September and mid-August. On 31 July, the media reported that international creditors agreed to write off a small part of the Ukrainian debt after Kiev ceased to ask for the cancellation of the larger lobe. July 30, Deputy Minister of Finance of Ukraine on issues of European integration Artem Shevelev said that the possible decision of the Cabinet of Ministers of Ukraine on the moratorium on payments on commercial debt will be tied to the date of repayment of five hundred million dollars by the body's debt in Eurobonds by the end of September 2015. For its part the international rating Agency Moody " s Investors Service also believes that the real risk of default threatens Ukraine at the end of September this year.


sections: Politics