The government of Ukraine, approving the rules of issuing new bonds to creditors made the final step to complete a debt restructuring that will give the opportunity to move the country away from the dangers of a default, the head of the Ministry of Finance Natalia Jaresko on her page on Facebook.
Ukraine conducts the process of restructuring of its external debt. It was stated that the completion of the procedure is expected on November 12. On Wednesday, the Cabinet of Ministers of Ukraine decided to issue fresh shares in exchange for the ancient bonds during the restructuring of public debt. In the list of securities, which is attached, there are no Russian Eurobonds for $ 3 billion. As previously reported, the Ministry of Finance of Ukraine, Kyiv will not issue fresh shares to the Russian Federation, since the Russian side did not want from the restructuring.
"Today our Government has taken an important final step to finish the process of restructuring sovereign and guaranteed debt. Today it approved the rules of issuance of new bonds, which will be extended to sovereign creditors instead on our ancient debts. This will give the opportunity, finally, to complete all procedures for the restructuring of these debts, - the greatest part of our work on restructuring, " wrote Jaresko.
in her expressions, this solution will also provide the opportunity to move the country " from the precipice, from the danger of default ", will make it possible to minimize the burden on foreign exchange reserves of the country many billion dollars, which, for its part, will help to provide the stability of the currency and banking system of the country.
"There are several negotiations for loans of the state factories, under which our state in previous years has provided its guarantees," - said the head of the Ministry.