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Wednesday, May 18, 2016

RUSSIA WILL NOT BACK IMF AID PROGRAM TO UKRAINE IF IT FAILS TO CONSIDER DEBT REQUESTS

RUSSIA WILL NOT BACK IMF AID PROGRAM TO UKRAINE IF IT FAILS TO CONSIDER DEBT REQUESTS

Wednesday, May 18, 2016 - 13:25


Russia will not support the aid program of the International Monetary Fund (IMF) to Ukraine if it does not take into consideration Ukrainian obligations to Russia regarding $3 bln debt, said the Finance Minister Anton Siluanov.

As a sovereign creditor Russia will insist on including Ukraine’s obligations to Russia when working at the update of the IMF's aid program to the country, he added.

The aid program to Ukraine, which is being worked out by the IMF now… hopefully the program will take into consideration Ukraine’s obligations on redemption of its debts to Russia. In case it does not how can we support the Fund’s program like that? That is absolutely not in line with our interests, he said.


According to Siluanov, Ukraine’s new government has not established a dialogue on the debt issue with Russia yet, reports TASS.

We haven’t had a dialogue at the level of finance ministers, unfortunately. As a creditor we’ve offered terms of restructuring Ukraine’s $3 bln bond. We’ve made our proposals but Ukraine never responded to them, he said, adding that Moscow has not received "any appropriate proposals from the Ukrainian side".

 There has been a "technical negotiation" where Ukraine offered restructuring terms worse than for commercial creditors, the minister said.

It is absurd. It is obvious that we as a sovereign creditor can have better terms of restructuring than commercial creditors, he added.


DONi News Agency
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