Ukraine has asked Russia to restructure the debt of $ 3 billion – RBC

Ukraine has asked Russia to restructure the debt of $ 3 billion – RBC

The Ukrainian authorities asked in January to Russia with a request to restructure the debt of $ 3 billion. This was stated by Russian Finance Minister Anton Siluanov. “Ukraine has requested debt restructuring. I had talks with my Ukrainian counterpart, “- he said, Interfax reported.

At the same time the Russian authorities do not intend to grant the request. “Return our resources invested in bonds once the other countries is very important, so we are not ready to go to the deferral and installments,” – added Siluanov. “We are not in that situation is, when could easily part with obligations to us,” – he said.

The talks were held in January 2015, said the minister. Russia expressed bewilderment that the budget of Ukraine adopted in the current year were not reflected funds for the repayment of liabilities. “Ukrainian colleagues assured that the money is in the budget; On the other hand, made a proposal to restructure this debt, “- he said.

The Russian authorities may require early return of debt” as a violation of the covenant [the conditions provided the opportunity to demand early repayment of the debt, if the level of public debt exceeds 60% of GDP], “- said the Minister. However, Russia has this “does not enjoy,” he added. Funds that have come from the Ukraine in December to repay the debt, already reflected in the “plan, the balance of payments and budget” of Russia, said Siluanov.

The fact that the Ukrainian authorities intend to ask creditors to restructure debt, it became known in late January. In particular, Kiev has hired investment bank Lazard to assist in negotiations with foreign creditors to restructure debt of $ 20 billion. This was reported by The Wall Street Journal, citing people familiar with the situation. At the same time, according to the publication, Eurobonds for $ 3 billion from Russia to include in the agenda of the talks were not going to the authorities.

Russia may require Ukraine to prepay the loan of $ 3 billion, according to Interfax source in the Russian government in the early January 2015. “The situation that is emerging in the economy and finances of Ukraine, suggests that a number of parameters, is a condition of granting Ukraine Russian bond issue is broken,” – he said.

If Russia will require repayment of the debt, Ukraine can expect to default. This is the agency Moody’s. Preliminary GDP data for 2014 has officially confirmed that the size of the national debt exceeded 60% of GDP. By the end of 2014 the national debt Ukraine will be 72.4% of GDP, and by the end of 2015 will reach 82.8%, the report said the agency on January 8.