13:02 13.11.2015

Ukraine to impose moratorium on payment of Russian debt if Russia refuses restructuring – Yatseniuk

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Ukraine to impose moratorium on payment of Russian debt if Russia refuses restructuring – Yatseniuk

The Ukrainian government will impose a moratorium on repaying the $3-billion Ukrainian eurobond debt if Russia does not agree to the proposed debt restructuring terms, Ukraine's Prime Minister Arseniy Yatseniuk has said.

"The Ukrainian government suggested equal conditions to all creditors, and all [creditors] approved them. The Russian Federation will not be offered any better terms. If Russia does not agree, the government will impose a moratorium on debt repayments," he told reporters after a meeting with U.S. Secretary of the Treasury Jacob J. Lew.

Yatsen i uk also said that the Ukrainian government was waiting for the International Monetary Fund (IMF) to change its Lending-into-Arrears Policy, which today rules out the possibility of funding IMF member countries that are still in debt to their official creditors.

"Ukraine hopes to receive approximately $4 billion worth of financial assistance in 2015 from the IMF, the U.S., the EU and other donors if Ukraine successfully implements its programs of reforms," the prime minister said.

Hopefully, the Ukrainian parliament will back these reforms, Yatsen i uk said, adding that further support for Ukraine would depend on the effective fulfillment of the IMF program.

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