UNIAN
The committee of Ukraine’s creditors has presented a detailed proposal for the Ministry of Finance which does not envisage any cuts in the repayment of principal debt, news agency Reuters has reported.
The creditors' committee of Ukraine stated on Monday that it was satisfied with the intentions of Kyiv to speed up debt restructuring talks, but repeated its objection against ‘any hair-cut’, Reuters said.
"As previously announced, the committee submitted a detailed proposal to the [finance] ministry, which, in the opinion of the committee, meets the objectives of the ministry, without reducing the principal amount of debt," a statement from the creditors’ committee reads.
The group of creditors, the exact composition of which has not been revealed, stated it comprised the funds managed or advised by BTG Pactual Europe, Franklin Advisers., TCW Investment Management Company and T. Rowe Price Associates, which hold approximately $8.9 billion in Ukrainian debt.
The group said it was pleased Ukraine wanted to accelerate negotiations.
"The committee sees no reason why substantive discussions on this important issue should not commence immediately."