“We have discussed the Ukrainian topic and express our common opinion to do everything in order to support the Ukrainian government in its ambitious financial agenda, as well as help in realizing the Minsk agreements,” Schauble said at a press conference.
The Ukrainian president signed a law allowing the country to freeze repaying its foreign debt, including the $3 billion that it owes to Russia, on May 28. A number of officials attributed the move as a de-facto declaration of default.
On Wednesday, US Vice President Joe Biden said the possibility of providing $1 billion in loan guarantees by the end of 2015 to the Kiev government was open. With the $2 billion in loan guarantees signed between the sides last week and in 2014, Biden said Washington would take on more of Kiev's massive debt should it continue implementing reforms.
Ukraine's economy has been hit hard by the conflict between government forces and independence supporters in the country's southeast that erupted in mid-April last year.
To date, Ukraine's total debt is estimated to have amassed to $50 billion, with various international financial organizations pledging aid to alleviate the country's economic plight.
