Ukraine will begin consultations on foreign debt restructuring with creditors on Friday, Ukrainian Finance Minister Natalie Jaresko has said.

"The ministry's agenda highlights the need to reduce pressure on public finances that the state debt exerts. Thus, we're about to start consultations as early as tomorrow to agree on its restructuring with our creditors," Jaresko said on Thursday while presenting the government's report on its first 100 days.

Prime Minister Arseniy Yatseniuk said in turn: "As for debt liabilities, Natalie is to tackle an exceptionally challenging task, which, I'm sure, she'll cope with."

A successful restructuring of Ukraine's debt is one of the key conditions for the first review of International Monetary Fund's Extended Fund Facility (EFF) program and the allocation of its second tranche.

As reported, on March 11, 2015, the IMF's Executive Board approved the EFF worth about $17.5 billion for Ukraine.