Photo from UNIAN
After months of relative stalemate, a group of the conflict-torn country's creditors has indicated that they are willing to take a small reduction in the face value of Ukrainian bonds to speed up a debt restructuring process, The Wall Street Journal reported citing sources close to the negotiations.
"As long-term investors in Ukraine, the committee has led efforts to ensure a rapid, mutually acceptable and sustainable debt restructuring, while also retaining the country's vital access to capital markets," one person close to the negotiations told the publication.
He said that Ukraine had recently indicated that it is willing to agree to a less severe haircut than it has previously proposed.
As earlier reported, Ukraine and its creditors have stood at an impasse for months over the debt restructuring deal. In this regard, Ukraine's Finance Minister Natalie Jaresko stated in her address to Ukrainian citizens that despite a difficult economic situation in the country, international creditors had been dragging the debt restructuring process. In turn, the ad hoc creditors' committee rejected minister's accusations of refusing to compromise the restructuring deal with Ukraine.
Meanwhile, the Ukrainian government doesn't rule out introducing a debt repayment moratorium later this year.