The Finance Ministry is preparing a plan of action in case of default of Ukraine


MOSCOW, October 13. The Ministry of Finance prepares and submit to the President a plan in case of a Declaration of default of Ukraine, said the head of the Ministry of Finance Anton Siluanov at the meeting of Russian President Vladimir Putin with government members.

“At present preparing a specific plan of action in case of default of Ukraine. And in fact, in late December, if Ukraine does not pay (pay the debt), then it will be marked as default, as the default state to another state, despite the program of the International monetary Fund”, – said the head of the Russian Finance Ministry, noting that the plan of the Cabinet of Ministers will submit for consideration to the President.

“I do not really understand logic of actions of our partners, because everyone knows that Russia, first, does IMF participation in crediting of Ukraine. I understand that our contribution to the efforts of the IMF are continuing, and we’re not stopping aid to Ukraine through the IMF”, – said Putin.

Siluanov noted that in case of failure of Kiev to pay its debt to Moscow will turn to international arbitration courts, as well as directly to the international monetary Fund.

The Minister also said that according to the IMF, are preparing changes in order to provide care. “They are motivated by the fact that preparing for a General change of approaches in order you do not include all of the obligations of sovereign countries to official creditors in the volume of the program (IMF), the volume of financing support from the IMF. It is clear that this is done solely in the current situation to freeze payments to the Russian Federation”, – said Siluanov.

Speaking about the banking sector, Siluanov noted that the Russian banks in Ukraine conducted additional capitalization of $1 billion at the request of the government of Ukraine and are planning additional capitalization for the same amount.

“Our banks that have subsidiaries in Ukraine, is carried out as required by the National Bank of Ukraine in recapitalization of these banks. Already been made such payments and such transfers in the amount of $ 1 billion, and still on the same plan,” said Siluanov.
According to him, thus Russia continues to support Ukraine. “And that is part of the program, which adopted the international monetary Fund in providing financial assistance to Ukraine”, – he added.