Storchak warned Kiev problems with external financing in the case of court debt

Moscow. November 10. Start court procedures on debt of Ukraine to Russia for $3 billion can create difficulties when returning Ukraine to the global financial markets borrowing, says the Deputy Minister of Finance Sergey Storchak.

“We still want to solve the problem without major consequences for Ukraine as a potential borrower in the financial markets. They’re not life to rely on loans from international financial organizations,” he said, noting that while the main source of covering the budget deficit of Ukraine in the part of the borrowings are loans from international financial organizations.

The Deputy Minister noted that if Russia and Ukraine will start to sue, “the train of judicial decisions will be very hard to push many institutional investors who have internal normative are not allowed to work with the debtor having defaulted obligations”.

He also recalled that one of the aims of the extended Fund facility of the IMF is to restore the admission of Ukraine into global markets. “Is devoted to 4 years, one year is already over. If we start the trial, which will last a year at least, then, another lost year, when institutional investors then the limits on them will open them…” – said Storchak.

Answering the question whether the alternatives considered for repayment of the debt, he said, “While the alternative – either the judgment or payment (full repayment of bonds within the prescribed period December 20)”.

Earlier Storchak said that while the situation with the debt of Ukraine to Russia for $3 billion developing judicial scenario.