UNIAN

She also repeated that she expects the International Monetary Fund to release its next $1.7 billion tranche of aid to Kyiv in July, even if there is no agreement on debt restructuring by then.

Ukraine's parliament passed a law last month that would allow the government to impose a moratorium on foreign debt payments if necessary.

"I don't think we have that much time," Jaresko told reporters, when asked if debt negotiations could last past the summer.

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"In that respect, I'd have to use other tools to reduce the pressure on the balance of payments, a moratorium," she said.

"If we're not able to make progress, then the creditors will be provoking the use of that [moratorium]," Jaresko said, adding that the government has already repaid some $2 billion to creditors since last year, despite fighting a conflict in the east.

However, she declined to say whether Kyiv would make its coupon payments to bondholders next week.

As reported earlier, the creditors' committee has proposed drawing some $8 billion from Kyiv's central bank reserves as part of the restructuring plan, which Jaresko has called "unacceptable." She said such a plan undermines the very purpose of Kyiv's economic program from the IMF and other donors, which aims to bolster the level of central bank reserves.