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No concession to Ukraine in restructuring debt – Russian PM


Russia won’t restructure loans issued to Ukraine. Instead, Moscow will insist on a tough stance in order to influence the decision of other IMF members to provide financial aid to Kiev, said Russian prime minister Dmitry Medvedev.

“We already said that we are not planning to restructure anything. That’s why, apparently, we saw these solutions [as] some unclear frantic actions taken by the Verkhovna Rada [Ukrainian parliament] and which then will have to be taken by the Ukrainian government,” Medvedev said in an interview with Rossiya-1 TV channel.

On Tuesday Ukraine’s parliament passed a bill granting the government the authority to suspend foreign debt payments. The bill aims to protect state assets and help Ukraine’s ailing economy which has long been balancing on the brink of default.

Russia has criticized the bill and according to Medvedev will make its position heard among the IMF-member-states.

“I am sure these decisions will eventually have an effect on the position of other creditors and members of the International Monetary Fund,” said Medvedev.

Ukraine’s prime minister Arseny Yatsenyuk said that the suspension of payments will only be applicable to private loans. However, Ukraine continues to consider $3 billion in Eurobonds purchased by Russia a private debt.

Moscow says that if Ukraine fails to repay $75 million in June, Russia will use its right to appeal to the court.

Russian President Vladimir Putin called the bill a consequence of Kiev’s low level of professionalism and ordered the Finance Ministry to sort out the issue of Ukraine’s debt to Russia.

Source: www.rt.com

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