The Ukrainian leadership is working with international partners, including the IMF, to replace the loans provided to the previous government at a high interest, with easier ones. Concurrently, Ukraine's debts to private lenders should be restructured, said Ukrainian Prime Minister Arseniy Yatseniuk.

"We are doing he same thing with the IMF, replacing high-interest loans with less expensive ones," Yatseniuk said on the "Ten Minutes with the Prime Minister" program, aired on Sunday.

"The Ukrainian leadership has said honestly to our lenders: it's time to help Ukraine; Ukraine's debts to private lenders should be restructured," he said.