The U.S. Treasury has urged Russia to restructure the debt of Ukraine


Moscow. November 12. The Minister of Finance of the USA Jacob Lew urged Russia to accept the idea of debt restructuring of Ukraine that will allow it gradually to become solvent due to the development of the economy.

“I hope that Russia will reconsider its stance on debt restructuring (Ukraine)”, – the Minister said in an interview bi-Bi-si.

He said: “I Think that you can agree to this, knowing that the restructuring will allow Ukraine to return to the path of economic growth, and it will automatically be able to meet its obligations”.

Ukraine in December 2015 to return to Russia $3 billion, the same amount bought Ukrainian bonds on the Irish stock exchange. In the case of nonpayment of debt Ukraine will allow the Russian default on bonds, having lost, thus, assistance from the IMF. The rules forbid Fund lending to countries with arrears to the lender, that is another state.

Ukraine turned to Russia with a request to write off 20% of the amount of debt and postpone the term of payment of the remaining debt for several years, until Russia agrees on this step.

However, as previously reported by the newspaper the Wall StreŠµt Journal, the U.S. and its Western allies are considering changes in lending policy of the IMF to give Ukraine the opportunity to get another credit tranche, even in the event of a default of Kiev on Russian debt.

These changes can be considered after the summit G20 in Turkey, which will be held on 15-16 November, said the publication.