International Monetary Fund says Russian offer on Ukraine debt is positive step
On Friday, Ukrainian Prime Minister Arseny Yatsenyuk reiterated that Kyiv would not offer Moscow “better conditions” than to private creditors, who in October agreed to write down $3.6 billion and restructure future debt worth $8.5 billion.
“We consider it unacceptable for us to talk about a restructuring that’s similar to commercial lenders, which is why we made our own suggestion”, Siluanov said.
He said: “We are ready not to receive any money this year”.
“Russia made an offer about the procedure for payment by Ukraine”. In case of refusal, Kyiv intends to start legal proceedings, he said.
Originally, Moscow had insisted that Ukraine repay by December the $3 billion it issued to former President Viktor Yanukovich ahead of pro-European protests that led to his ouster in February 2014.
Russian Federation has reportedly declined to join the debt-restructuring talks and said it would file a lawsuit against Ukraine to the worldwide court if the debt payments were not met.
Russian Federation had previously demanded a timely repayment of the loan, which it extended to Ukraine’s previous, pro-Moscow president in Kyiv in 2013.
Russian Federation subsequently decided against investing the other $12 billion in Ukraine’s bonds.