Sunday, November 29, 2015

Bloomberg: Russia Pushes IMF for Response on Ukraine Debt

Bloomberg runs this article explaining that the IMF and Russia are somewhat at odds over how to resolve a large debt that the Ukraine owes to Russia. This bears watching to see how it turns out. Below are some quotes from the article.

"Russia, which has previously refused to negotiate with Ukraine over restructuring its $3 billion Eurobond, is waiting for the International Monetary Fund to respond to its proposal to change the terms on the debt and expects the cash-strapped country to initiate new talks if it’s unable to pay in full on Dec. 20.

The impasse can only be resolved “in the framework” of the IMF-led program of assistance for Ukraine because the nation lacks the financial means to pay, Russian Finance Minister Anton Siluanov’s aide, Svetlana Nikitina, told reporters in Moscow Friday. “Until a conceptual solution to the problem is found, we still expect the debt to be repaid,” she said."


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