Ukrainian moratorium on debt payments is issue to discussed by Ukraine, creditors - EC

11:10, 21.05.2015 1 min read

The European Commission (EC) has said that Ukraine should reach agreements with the holders of Ukraine's debt to avoid peaks of paying debts.

As for the law on the moratorium on paying debts, this is an issue for Ukraine to discuss with its foreign creditors, a European Commission official has told Interfax-Ukraine, adding that the European Commission is not involved in the process.

The official said they supported constructive dialog between Kyiv and the debt holders.

The European Commission understands that Ukraine is holding negotiations with the holders of international bonds the term of payment on which expires during the period when the IMF EFF program is to be implemented in 2015-2018, he said. The European Union does not hold any of Ukraine's sovereign bonds and the return of macro-financial aid is not foreseen in 2015-2018. Thus, the inclusion of the EU officials in consultations with creditors is not on the agenda, the official said.