IMF: the Decision to change the rules not adopted for some specific countries
The correction rules of the international monetary Fund to continue payment of the borrower If default on sovereign debt is a small part of the programme of reform from 2014, It does not concern any specific country, said the Commissioner IMF Jerry rice. "It (the decision on approval of payment When default on sovereign debt) part of the program of reforming of the Fund, which consists of different parts And is in the note of the meeting of the Board of Directors of the IMF from 2014", - has explained rice, reports RIA " Novosti ". Rice also added that the IMF will support Ukraine in the efforts to alleviate its debt burden And welcomes any dialogue with creditors And reaching agreement. The question about whether to apply fresh rules on contracts awarded before, he left without reaction. And the Question about when the decision on the matter has a chance to be accepted, he Also not replied." I don't have specific dates for you. This will definitely not happen in the upcoming week (at a regular meeting of the Board of Directors of the IMF) ", ? he added. First on Thursday, the sources of The wall Street Journal said that North America together with other Western countries assume in November to change its policy of lending to the international monetary Fund to allow the IMF to continue financing of Ukraine in case of Russian default on the loan. Currently have IMF policies prohibited for the Fund to provide loans to countries that have experience of overdue payments to other governments. And Ukraine has the risk to prevent a default on Russian bonds. Remember, at the end of summer Ukraine has agreed with creditors about write-off of 3, 6 billion dollars of bond debt totaling about $ 18 billion. While Kiev asked the Russian Federation "to accept the rules of writing off another creditors" to accept a 20 percent debt forgiveness. Russia repeatedly stating the position that to participate in this restructuring has no plans And will demand full repayment of Ukraine's Eurobonds in the beginning of winter this year. On 13 October the head of the Ministry of Finance of the Russian Federation Anton Siluanov has told about attempts of the IMF to help Kyiv to freeze the debt to Russia. On the same day, Russian President Vladimir Putin ordered Minister of Finance to discuss with the IMF providing Ukraine with additional assistance in $ 3 billion for debt payments Moscow. Also, the Finance Minister said that the Russian Federation will take legal action to protect its interests as a creditor, if Ukraine will repay the debt in 3 billion dollars at the beginning of winter. The four-year Program of financial assistance to Ukraine was approved by the IMF Board on March eleven. The program provides for the allocation of Fund 17, 5 billion dollars, And all international creditors over four years - $ 40 billion. Ukraine this year has already received 6, 7 billion dollars of aid In total aid provided in 2015, 10 billion dollars. This year allocated a further 2 trenches 1, 7 billion.