10:57 GMT +321 July 2018
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    A man stands next to an advertising placard showing British pounds, US dollars and Ukrainian hryvnia banknotes in Ukrainian capital Kiev.

    Kiev to Meet With Creditor Committee, IMF to Discuss Debt Restructuring

    © AFP 2018 / SERGEI SUPINSKY
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    Kiev is planning to take part in a trilateral meeting with the committee of its creditors and the International Monetary Fund (IMF) to discuss debt restructuring, Ukrainian Finance Minister Natalie Jaresko said Friday.

    KIEV (Sputnik) – According to Jaresko, Kiev is sending the creditors an updated proposal on debt restructuring. The proposal includes the reduction in the amount of debt, extension of the period of debt repayment and changes of interest rate.

    "Next week, a trilateral meeting of IMF, Ukraine and the creditor committee to clarify all the technical issues over our [new] proposals," Jaresko said.

    Jaresko also added that Ukraine's creditors have so far taken a non-constructive approach on debt restructuring, and have been stretching time.

    Kiev Plans to Pay $75Mln to Russia Against $3Bln Eurobond

    Kiev plans on transferring its next payment of $75 million to Russia against its $3-billion sovereign debt on June 22, Natalie Jaresko said.

    “We are servicing all of our debts and payment on the so-called Russian obligations will be paid on June 22 because tomorrow isn’t a bank day. We’ll pay that $75 million,” Jaresko said.

    The deadline for the $75-million payment was set for Saturday, but Moscow expected the tranche to come in on Monday.

    Earlier in the day, Russian Deputy Finance Minister Sergei Storchak said that in repaying Russia, Ukraine would be able to win some time to repay other creditors and avoid a looming default.

    According to Storchak, Ukrainian borrowers owe Russian banks a total of about $25-26 billion.

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    Tags:
    International Monetary Fund, debt, Eurobonds, Natalie Jaresko, Ukraine, Russia
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