UNIAN
An extension of maturities and a reduction in principal of loan and coupon will be required for restructuring Ukraine’s external debt under the International Monetary Fund’s aid program, according to the statement posted by Ukrainian Finance Minister Natalia Jaresko on her Facebook page.
The minister said that she remained optimistic about reaching a deal with the creditors before IMF next revision of the program in May.
"It is important for everyone to keep in mind that any deal must address issues in both our financial liquidity and solvency to meet each of the IMF-agreed targets," Jaresko wrote.
According to her, both Ukraine and its creditors have interest in reaching a solution that will enable Ukraine to withstand any potential economic shocks.
Earlier, on April 22, one of the participants in the restructuring talks, the state-owned Ukreximbank, released data on expected sources of savings for the balance of payments of Ukraine in 2015. According to these data, Ukraine expects to save up to $5.2 billion on debt securities. The list of securities includes government bonds worth $500 million, $644.220 million and $3 billion (purchased by the Russian Federation), municipal bonds of Kyiv city worth $250 million, bonds of Ukreximbank worth $750 million, and loans of other government agencies worth a total of $225,543 million.
As UNIAN reported earlier, the government included government bonds of Oshchadbank (Savings Bank), Ukreximbank, Ukrainian Railways, Ukravtodor and debts of local councils in the list of securities to be restructured.
Ukreximbank announced the beginning of negotiations with the holders of Eurobonds on March 27.
It is expected to complete negotiations with the creditors in May 2015, before the arrival of the next IMF review mission.