Dissatisfied with the creditors restructuring, Jaresko was sent to negotiate with the ad hoc Committee

Ukraine does not and will not hold any direct negotiations with individual creditors who may Express dissatisfaction with the agreement on debt restructuring, or with the owners of the «Russian debt».

This was stated in Washington the Minister of Finance Natalia Jaresko, reports «UKRINFORM».

According to her, all issues are resolved through the ad hoc Committee of creditors.

«No negotiations. They have not had any problems, they were negotiating with so-called special creditor Committee and I think they agree with him,» Jaresko said, answering the question whether Kiev communicates with the creditors that did not agree with the restructuring terms.

Therefore, according to her, this question concerns the relationship between creditors.

Answering the question about the owners of the so-called trimelliate «Russian debt», which was not included in the total restructuring, Jaresko said that Ukraine adheres to the principle of equality between creditors in resolving debt issues.

«We do not hold separate negotiations with anyone other than the Special Committee. Who wanted to participate in the work in this format, he participated. We have hundreds and hundreds of lenders. The Russian side — the so-called holders of Russian bonds was not involved — and it was their choice,» said the Minister.

Now, according to her, everything happens according to prescribed procedures.

«We informed all over the «Custodian system», and is now undergoing the procedure of voting. Separate negotiations are underway with anyone, because equality in this process is very important — both for us and for other creditors, and even for the IMF. We observe,» he said Jaresko.

We will remind, on August 27, Ukraine and the Committee of creditors reached agreement on restructuring of the state debt total volume of 18 billion. Restructuring implies the writing off of 3.6 billion dollars, deferral of payments on principal in the amount of 11.5 billion. for 4 years, and fixed coupon rate on all the bonds at 7.75% per annum.

On September 17, the Verkhovna Rada of Ukraine constitutional majority adopted the government’s package of laws necessary to complete the restructuring agreed with lenders. In particular, the government was able to negotiate with parliamentarians mechanism of compensation of losses of creditors in exchange for partial debt relief with the growth of Ukraine’s GDP by more than 3% annually after 2020. The President of Ukraine Petro Poroshenko signed a law on the restructuring on September 18.

On 22 September the government adopted a decree «On procedure of restructuring of government and government-guaranteed debt and the debt write-off», which will allow Ukraine to legally start the process of restructuring of debt. The Finance Ministry is going to finish it before December 1 of the current year.

Dissatisfied with the creditors restructuring, Jaresko was sent to negotiate with the ad hoc Committee 26.09.2015

Сентябрь 26th, 2015 by
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