18:59 GMT +320 August 2019
Listen Live
    At least $25 million in funds for social services and poverty alleviation programs in the Lower Brule Sioux Reservation in the US state of South Dakota have been systemically appropriated by tribal authorities, according to a report issued by HRW Monday.

    Kiev to Pay $3 Billion to Moscow in Arrears: Ukrainian Finance Ministry

    © Flickr/ reynermedia
    Europe
    Get short URL
    0 34

    Ukraine plans to complete its obligations on paying Russia $3 billion, according to the statement of the Ukrainian Finance Ministry.

    MOSCOW, December 29 (Sputnik) – Ukraine plans on repaying Russia the $3 billion invested in the country's Eurobonds and will not restructure them, the Ukrainian Finance Ministry's press center told RIA Novosti on Monday.

    "All of the payments that need to be made this year and next year will be completed. Ukraine has fulfilled and will continue to fulfill its obligations. There have been and will be no plans to restructure," the press center said.

    Earlier reports indicated that the International Monetary Fund (IMF) may ask Russia to allow Ukraine to defer its repayment beyond 2015, at least until the end of its bailout program. Otherwise, international financial institutions may refuse to provide Ukraine with any funds, sources close to negotiations on economic assistance to Ukraine told RIA Novosti on Monday.

    Petro Poroshenko and Angela Merkel
    © East News / AP Photo/Daniel Dal Zennaro, POOL
    "The fund will not [allocate all $15 billion] alone — the Board of Directors is unlikely to let such a large sum pass. The most it can give is $7 billion to $8 billion. The issue of allocating funds is a source of political contention in Europe and the United States," a source familiar with the proposal said.

    The United States has only earmarked $1 billion in loan guarantees to Ukraine this year.

    According to the source, nearly half of Ukraine's $6.5 billion debt is owed to Russia, while only $1.5 billion is owed to the IMF. Thus, they explained, in the event that funds are raised, the lion's share of European and US taxpayer money will go to Russia.

    The source confirmed that the IMF considered asking Russia to defer the bonds' maturity terms.

    Russia invested nearly $15 billion in Ukrainian Eurobonds in 2013. Soon after, Moscow purchased its first two-year $3 billion tranche at a 5-percent annual interest rate with biannual coupon yield payments. Moscow refused complete transaction of the remaining $12 billion, citing an illegitimate change of power in Kiev.

    Related:

    Ukraine's Parliament Adopts State Budget With 3.7 Percent GDP Deficit
    Poroshenko: Ukraine Must Import Electricity Without Intermediaries
    Moscow, Kiev Sign Agreement on Electricity Supply to Ukraine: Official
    Ukraine’s Security Council Says Cannot Exclude Introduction of Martial Law
    Tags:
    International Monetary Fund, Ukrainian Finance Ministry, Ukraine, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik