Ukraine already lacks $25 billion – we need to find another $15 billion somewhere
Moscow - Kyiv, February 16 (PolitNavigator, Mikhail Stamm) - The $25 billion promised by the IMF and other creditors will not be enough to get Ukraine out of the debt crisis, Fitch admitted. Ukraine will have to ask old creditors, including Russia, to defer payments.
Subscribe to the news "PolitNavigator - Kyiv" в Facebook, Classmates or In contact with
Loans from the IMF and other lenders (in total support could amount to $25 billion) will not be enough. Prime Minister Arseniy Yatsenyuk said that out of $40 billion, which the IMF considers an “adequate amount” to pay off debts and strengthen reserves, Ukraine will have to find $15 billion through savings. That is, to make ends meet, Kyiv needs to take these 15 billion somewhere, writes Kommersant.
The country's Ministry of Finance expects to begin consultations with holders of Ukrainian bonds on restructuring after the formal approval of the IMF program. But who will agree to defer payments if Fitch, recognizing that Kyiv still does not have enough money, lowered the rating to pre-default? Russia, to which Ukraine must pay $2015 billion at the end of 3, clearly has no reason to meet Kyiv halfway.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.