"Russia won’t get better terms than other lenders. If it refuses to negotiate we will introduce a moratorium on the payment of Russia's debt," Yatsenyuk said.
Putin will meet head of IMF
Kremlin spokesman Dmitry Peskov said on Friday that Vladimir Putin will meet with the International Monetary Fund (IMF) Managing Director Christine Lagarde "on the sidelines" of the G20 summit.
We’re planning a meeting with Lagarde," Peskov said, though he refused to comment whether the issue of Kiev’s $3 bln debt to Russia due to be repaid in December 2015 will be on agenda.
As for prospects of Russia’s announcing this loan’s default in case Ukraine fails to repay it Peskov said: "The issue is about sovereign debt. Non-payment will mean default situation."
Kiev ready to sue Russia over debt restructuring
Ukrainian Prime Minister Arseniy Yatsenyuk said in mid-October that Ukraine was ready to start litigation with Russia over Kiev’s $3 billion debt restructuring. According to Yatsenyuk, Kiev has proposed that Moscow should consider once again Ukraine’s terms of its debt restructuring and write-down earlier offered to the special creditors’ committee. In case of refusal, Kiev intends to start legal proceedings, he said.
The Ukrainian financial authorities have said on many occasions they consider Russia’s $3 billion loan as a commercial debt and insist on its restructuring. Meanwhile, Russia insists the loan is a state debt and demands its full redemption.
Russia made a decision in late 2013 to invest up to $15 billion in Ukraine’s sovereign Eurobonds. Soon afterwards, Russia bought Ukraine’s first Eurobond tranche worth $3 billion with a two-year maturity and a coupon rate of 5% per annum and coupon payments every six months.
Russia subsequently decided against investing the other $12 billion in Ukraine’s bonds.
[tass.ru]
13/11/15
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Ukraine PM Calls Debt Deal A Blow to ’Enemy’ Russia
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Russia expects full, timely debt repayment from Ukraine - Finance Ministry...
Russian Finance Minister Anton Siluanov and his Ukrainian counterpart Natalie Jaresko have failed to agree on the restructuring of Ukraine’s debt to Russia, which amounts to $3 billion...
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IMF approves new loan disbursement for Ukraine
IWF gibt weitere Hilfstranche für Ukraine in Höhe von 1,7 Milliarden Dollar frei..
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Russia may declare Kiev's default, unless he Ukrainian government makes the $3 billion bond payment, Ukrainian Finance Minister Natalia Yaresko stated...
ReplyDelete"If we do not make the payments - yes. But I think that it is too early to think about what we are going to do and what they are going to do. It would be speculation on both our and their side. We are all getting ready for any kind of possibilities," the official told the Ukrainian "Channel 5".
According to Yaresko, Kiev can not make the payment to Russia. "No, we can not make the payment. Under the IMF program, we have clear parameters of how much we can assign for anything: from budget deficit to debt repayment," she added.
The Ukrainian minister said that she was ready to meet with her Russian counterpart to discuss the issue of debt restructuring. "I am ready to meet again with the Minister of Finance of Russia. I was told that they would like to invite us to another such meeting after the G20 meeting in Turkey, and I'm ready for such an open dialogue," said Yaresko.
Yaresko added that the IMF was not ready to help Kiev pay the Russian debt. She set out a hope that the financial obligations to the Russian Federation would not affect the program of cooperation with the IMF.
Ukraine's Finance Minister Natalia Yaresko believes that Western assistance to Ukraine is insufficient. In an interview with the Financial Times, she said that $40 billion of Western financial assistance was not enough to maintain stability of the Ukrainian economy. Ukraine needs twice as much money, the official added.
http://www.pravdareport.com/news/world/13-11-2015/132582-russia_ukraine_debt-0/#sthash.mS6OIWDS.dpuf
13/11/15