Russia’s Finance Ministry: IMF acknowledged Ukraine’s debt before Moscow sovereign

Russia’s Finance Ministry: IMF acknowledged Ukraine’s debt before Moscow sovereign


Sovereign debt cannot be considered, along with commercial, explained the assistant to the head of the Ministry of Finance Svetlana Nikitina. Earlier, Russia suggested Ukraine to restructure the debt by $ 3 billion.

MOSCOW, 20 Nov. Russia sent Ukraine offers debt restructuring: international practice in it should do the borrower who can’t repay the loan on time, told journalists the assistant to the head of the Ministry of Finance Svetlana Nikitina.

“We did not send and should not send any formal proposals of the Ukrainian side, because the Russian Federation in this case is the creditor, and, according to international practice, the debtor is required to come up with suggestions of negotiations on the debt, he cannot pay them in time,” said Nikitin.

Russia has offered Ukraine to restructure the debt by $ 3 billion, allowing it to repay 1 billion in 2016-2018, subject to the provision of guarantees for it from the authorities of the USA or the EU or one of the international financial institutions.

The Finance Ministry is in contact with the IMF on debt of Ukraine, she said. “The Ministry of Finance leads engagement with the IMF, because, first of all, the IMF and the debt status of the debt was discussed quite a long time, and the Fund argued that Russia ought, that duty somehow to restructure”, she said.

At the same time, the IMF agreed with the status of a debt in 3 billion dollars, which is the sovereign duty and he cannot be considered equally with commercial, Nikitina added.

“In addition, the IMF is an international organization that provides a program of financial assistance to Ukraine. But the debt problem can only be solved in the framework of this programme, because we know perfectly well that Ukraine has no money, hence, sources of debt repayment, probably, too, no,” she said, adding that on 8 December scheduled meeting of the Board of Directors of the IMF. “And if before this time will be able to conceptually solve the problem, you may not need the change Fund programme”, she concluded.