"Ukraine will offer no privileges to the Russian loan," he said on Sunday after a meeting with Managing Director of the International Monetary Fund [IMF] Christine Lagarde. "Russia has an opportunity to join the talks. As far as I understand, this opportunity is still in place. But Russia will be granted no privileged terms as compared to other creditors."
Poroshenko stressed that cooperation with the IMF was vitally important for Ukraine, since thanks to that institution "the currency and gold reserves of the National Bank currently stand at $12.7 billion."
Apart from that, Poroshenko said among issues discussed with Lagarde were support to accelerated privatization in Ukraine, tax reforms and financial rehabilitation of the national energy company Naftogaz.
On August 27, Ukraine’ Finance Minister Natalie Jaresko told a government meeting that Ukraine had reached an agreement on writing off 20% of its debts, or $3.6 billion out of $18 billion. The creditors agreed to prolong payment of the rest of the sum - $15.5 billion - till 2019. The debt is made up of government guarantees and Eurobonds bought by foreign creditors. The maturity term of the former is September 23.
She offered the same terms to Russia. In response, Russian Finance Minister Anton Siluanov said Russia would insist on complete debt repayment.
[tass.ru]
6/9/15
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Related:
U.S. Treasury Department welcomes agreement on Ukraine debt restructuring (no mention of Ukraine’s debt to Russia)
Ukraine clinches debt-restructuring deal with int'l creditors. Fitch downgrades Ukraine’s rating amid reports of debt write-off
Ukraine to get new IMF loans despite inability to repay private lenders
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2013:
Ukraine scores $15 bln from Russia, 33% gas discount
Putin says that the decision to render aid to Ukraine was dictated by that fact that the brotherly country was in a difficult financial and political situation ...
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Russia won’t write off Ukraine’s debt, will demand payment full — finance minister...
ReplyDeleteUkraine should pay its debt to Russia in full, Finance Minister Anton Siluanov said on Monday.
Moscow will not join the club of the creditors who decided to write off part of Kiev’s debt.
"Russia’s debt is a sovereign one. As for sovereign debts there is a special procedure to settle such cases. We will not enter into negotiations with the Ukrainian government on this matter,"Siluanov said.
According to the finance minister, Russia has repeatedly stated its stance on this issue.
"We believe that sovereign debts should be paid in full at the appropriate time. Three billion dollars that we have granted from the National Welfare Fund should be returned to Russia by the end of this year. We have the funds on infrastructure and important project for Russia We really need the money, especially in the present circumstances, when the availability of Russian companies in the international financial markets is limited. Therefore, we will demand that our colleagues and partners should return the full amount of the debt in compliance with the schedule," Siluanov said.
http://tass.ru/en/economy/819320
7/9/15
Russia does not intend to hold negotiations on conditions of debt repayment by Ukraine...
ReplyDeleteRussia does not intend to hold negotiations on conditions of $3 bln debt repayment by Ukraine and still expects to receive funds in full by the year-end, Russia’s Deputy Finance Minister Sergey Storchak said on Tuesday.
"Our position remains the same: we expect the debt will be repaid timely and in full," the deputy minister stressed.
Calls of the International Monetary Fund to lenders to show the good will on the issue of Ukraine’s debts "are primarily focused, certainly, on private investors," Storchak said. "We do not believe this is related to us, the Russian Federation," the deputy minister added.
http://tass.ru/en/economy/821246
15/9/15