WASHINGTON (Sputnik) – Ukraine’s creditors should collaborate with Kiev and agree on the debt restructuring offers suggested by the government, Ukrainian Prime Minister Arseniy Yatsenyuk said at US-Ukraine Business Forum in Washington, DC, on Monday.
“We ask our creditors to be cooperative and collaborative,” Yatsenyuk said. “We ask our creditors to accept the offers that have been made by the Ukrainian government and find compromise.”
In mid-June, Ukraine asked creditors to take a 40-percent write-down in principal and accept new bonds tied to its future economic performance under its repayment plan.
On June 26, Ukrainian Finance Minister Natalie Jaresko said the creditor group had refused to contribute to Ukraine's recovery, warning that Kiev was ready to cut off debt payments if negotiations did not progress.
Yatsenyuk argued that by agreeing on the Kiev’s debt restructuring proposal, the creditors will help Ukraine to become a success story.
“This is the way to support the Ukrainian people,” he said.
The total public debt of Ukraine is some $70 billion dollars, $40 billion of which make up the foreign debt.
