Ukraine has started consultations on debts restructuring

On 13 March Ukraine starts consultations with creditors on its external debt’s restructuring.It was announced by the Minister of Finance of Ukraine Natalia Yaresko.Ukraine has started consultations on debts restructuring‘Now in the agenda of the Ministry is necessity to decrease the pressure on the state finances from the state debt. For this purpose we start tomorrow the consultations regarding its restructuring with our creditors,’ – she said during her Ukraine’s government public report on 100 days of activity on Thursday, 12 March.Prime Minister of Ukraine Arsenii Yatseniuk while commenting forthcoming negotiations has emphasized that the head of the Ministry of Finance received ‘an extremely difficult task’, but he expressed confidence that ‘she will manage’. Successful debt restructuring is a key requirement of the first control review of the international program of extended financing and allocation of the second tranche of credit to Ukraine.Having informed on the start of consultations on Ukraine’s debt restructuring, Yaresko did not specify which exactly debt obligations have been discussed. One of the largest creditors of Ukraine is Russia who owns Ukrainian euro bonds for the amount more than three billions USD.
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