16:27 04.05.2017

Finance ministry believes decision of court in London in $3 bln bond debt not to affect placement of new bonds

2 min read
Finance ministry believes decision of court in London in $3 bln bond debt not to affect placement of new bonds

The decisions of the High Court of Justice in London under the Russia's lawsuit against Ukraine over $3 billion bond debt would not be an obstacle for the issue of new bonds, Ukrainian Finance Minister Oleksandr Danyliuk has said.

"Look how Ukraine's eurobonds reacted to the decision of the court in London – they did not react at all: after a short-term fall of the price our bonds restored and stabilized. We have not yet filed a counterclaim. I want to say that the history of Ukraine is the history of a large country with a large potential which is moving in the right direction now," he said in an interview with Interfax-Ukraine.

Danyliuk said that Ukraine should show to investors now that the country's economy is restoring, some reforms have been conducted and the result can be seen, while other reforms are planned for the near future.

"We have what to tell investors to build a concrete history of relations for the successful entrance of the market. We need to form a position that purchase of our securities is a good investment in the future, as now Ukraine is beyond vision of investors," the minister said.

As reported, the High Court in London March 29, 2017 approved the quick procedure for Russia's lawsuit against Ukraine over the $3 billion bond default. The decision does not contain the final decision in the case.

Ukraine intends to challenge the decision of the court.

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