The court will support the position of Russia to collect the debt from Ukraine, said the head of the MAYOR Alexei Ulyukayev. Currently Kiev continues to receive program assistance from the IMF, despite the fact that defaulted on Russian debt.
MOSCOW, 29 Dec. The position of Russia to collect the debt from Ukraine is one hundred percent fair and will be upheld, says the head of the MAYOR Alexei Ulyukayev.
Previously, the IMF Executive Board lifted the ban on continued funding countries who default on sovereign debt (indebted to the lender).
“It’s certainly a strange decision. Nevertheless, we will proceed from him, and this means that we will protect their rights, their sovereign rights in court. I think 100% confident that our position in the court is fair, effective and will be upheld. Another simply can not be”, — said Ulyukayev in an interview Vesti.ru.
The IMF in mid-December confirmed that the debt of Ukraine to the Russian Federation is a sovereign and, therefore, by the rules of the Fund may not be restructured on the same terms as the debt to private creditors. However, as a result of the approved early in December, reform of the Fund defaulted on this debt will not lead to suspension of the assistance programme from the IMF.
The bonds were due and payable December 20, the payment, in favour of the Russian Federation must be made on a working day, 21 December. Ukraine on Monday had not implemented a payment as repayment of debt to Russia to $ 3 billion, but formal default will occur upon expiration of the grace period of 10 days.
The Finance Ministry said earlier that is still waiting for repayment until the end of 2015. Prime Minister Dmitry Medvedev said that Russia needs to recover Ukraine’s entire debt on the loan subject to the penalty, and instructed the Vice premiers to hire lawyers and prepare an appeal to legal authorities for debt collection.