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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.

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"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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