Ukraine defaults on $3 billion Eurobond to Russian Federation
Storchak told reporters that Ukraine’s move would not change Russia’s plan to take Ukraine to court once the grace period on the debt payment expired.
Storchak told reporters that Ukraine’s move would not change Russia’s plan to take Ukraine to court once the grace period on the debt payment expired.
“The Ukranian government is imposing a moratorium on repaying the so-called Russian debt”, Prime Minister Arseniy Yatsenyuk told a government meeting. “The people who go there had in their time expressed their solidarity with Donbass and considered it inappropriate to put up with the fact that Ukrainian military forces started to destroy settlements in southeast Ukraine”, Peskov said.
The moratorium means that Ukraine is likely to default on the debt, which is due on Sunday.
Ukraine’s parliament approved a budget for 2016, fulfilling a key demand of the International Monetary Fund that enables it to keep providing Kyiv with loans.
KYIV, Ukraine-Ukraine said Friday that it would suspend repayment of a $3 billion bond to Russia, a move that the Russian government earlier said would provoke legal action against Kyiv.
“From today we are halting payments on this debt”, he said, essentially confirming that Kyiv will default on the bond when the Sunday payment deadline arrives.
KYIV, December 26. /TASS/. It is critically important for Ukraine to get a third tranche from the International Monetary Fund under the revised cooperation program, Finance Minister Natalie Jaresko told the daily Delo in an interview.
“By announcing a moratorium on returning this sovereign debt, the Ukrainian side has, you could say, in fact admitted default”, said Kremlin press secretary Dmitry Peskov.
KYIV – The Ukrainian parliament on Friday adopted a budget for next year with a deficit of 3.7 percent of GDP, crucial for unlocking much needed aid from the IMF and Western countries.