Ukraine could impose moratorium on servicing debts if it creditors do not agree to debt restructuring - Jaresko

12:44, 11.06.2015 1 min read

Ukraine could stop paying its sovereign creditors within weeks if they do not agree to debt restructuring, Finance Minister of Ukraine Natalie Jaresko said on Wednesday, The Financial Times has reported.

"I can’t wait until the end of the summer and do nothing," she said. "I don’t think we have that much time . . . I would have to use other tools to reduce the pressure on the balance of payments, [including] a moratorium," she said.

Ukraine is to settle large payments on bonds in September, and next week the country is due to pay coupons on the issues.

Ukrainian delegation held a meeting with representatives of the International Monetary Fund (IMF) on Wednesday. Ukrainian Prime Minster Arseniy Yatseniuk expects that the IMF Board will decide on the provision of the second payment to Ukraine from the international aid package in the first ten days of July.