WASHINGTON (Sputnik) — The $3-billion loan was secured by the government of then-President Viktor Yanukovych in late 2013. Moscow has repeatedly stated that Kiev's inability to pay back the debt means a default thus rendering Ukraine unable to receive IMF help, while the IMF altered its policy on defaulting debtors in late 2015, allowing the fund to continue lending to countries that have partially defaulted on their sovereign debt. Russia has filed a lawsuit against Ukraine over the issue.
"It will always be taken into consideration because there are arrears on the bonds so we keep continuing to urge both sides to work on finding a solution on the restructuring of the bonds in line with the parameters of the program," Rooden told reporters.
On March 11, 2015, the IMF approved a four-year program of financial aid to Ukraine, which stipulates a $17.5-billion loan to be paid out in a number of installments over the next four years and originally open for reviewing on a quarterly basis.
Ukraine heavily relies on foreign aid to support its economy and to pay debts amid the ongoing armed conflict with independence supporters in the country's southeast.
