Russian Federation makes proposal to International Monetary Fund over Ukraine
In December 2013, the presidents of Russian Federation and Ukraine, Vladimir Putin and Viktor Yanukovych agreed that Moscow would grant Kyiv a credit worth $ 15 billion through the placement of Ukrainian securities.
The global Monetary Fund welcomed an offer by Russian Federation to restructure Ukraine’s debt as a positive step, a spokeswoman for the Fund said on Monday.
“If Russian Federation does not accept the restructuring, the government will introduce a moratorium on the debt payments”, Yatsenyuk told reporters.
Speaking on the sidelines of the Group of 20 leading economies summit in Antalya, in Turkey, Mr. Putin said that Moscow proposed Kyiv pay $1 billion a year from 2016 to 2018. “We stand with the Ukrainian people and expect the president to engage fully in the Minsk peace process”. “It would be very positive as the fund will need additional capitalization and changed ratio between shares of developing and developed countries within the fund”, Siluanov said, adding that the issue is about a fairer distribution of quotas and shares within the global organization.
He pointed out that Kyiv is offering to Moscow the same conditions of the debt restructuring as to other lenders, who have joined Ukraine’s credit relief deal.
Ukraine’s finance ministry said on Monday it had not received “any direct information” on an offer by Putin.