Natalie Jaresko / Photo from UNIAN
Ten months into her stewardship of Ukraine's shattered economy, Finance Minister Natalie Jaresko on Tuesday brushed aside the idea that the "win-win" terms of the country's sovereign debt restructuring will ultimately fail to fix its finances, according to Reuters.
"I do not believe we could have done a better deal," Jaresko said in an interview at the end of a day meeting with creditors after arriving in the middle of the night from creditor meetings in London, Reuters reported on Wednesday.
All of the IMF's criteria were met and it solved Ukraine's liquidity and solvency problems, she said.
The deal's principal write-off and the repayment extensions were far less than predicted, raising concerns that Ukraine could be back to the negotiating table much like Greece after its 2012 restructuring proved inadequate.
Creditors will cast their votes on October 14 on the deal that meets International Monetary Fund criteria to unlock a $40 billion financing package.
Ukrainian sovereign debt has rallied since major creditors agreed to the terms in September, although a question mark hangs over the $3 billion debt held by Russia that matures in December. Moscow is demanding full payment.
Fighting with pro-Russian separatists in its east has drained Ukraine's finances.
Ukraine's four major creditors, Franklin Templeton, BTG Pactual, TCW Investment Management and T.Rowe Price, agreed to a 20% cut in principal owed, an extension of maturities and a so-called Value Recovery Instrument (VRI) that pays out based upon economic growth.