Yaresko admitted: Ukraine may not receive the second tranche of the IMF
Kyiv, March 25 (PolitNavigator, Vasily Ablyazimov) – The International Monetary Fund may refuse to provide Ukraine with a second tranche of the loan if Kyiv fails to restructure its accumulated external debt, the news agency reports Golos.ua.
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The US citizen, the current Minister of Finance of Ukraine, made this statement in an interview with Bloomberg.
“If Ukraine’s negotiations do not succeed by the end of May, by the time the IMF program is revised for $17,5 billion, then the country may find itself outside the program,” the minister said. We are talking about negotiations on the restructuring of external debt. Let us recall that during the year of the government of Arseniy Yatsenyuk, Ukraine’s external debt approached 100% of the country’s GDP.
If negotiations on restructuring are successfully completed, Ukraine will be able to count on receiving a second tranche from the IMF by the end of May, Yaresko added.
“Ukraine must reach an agreement on restructuring its debt by the end of May,” she said. At the same time, investors have already recognized the need to review payments, Yaresko said. In particular, Ukraine's largest Western creditors have created a kind of alliance, the purpose of which is to prevent delays in payments by Ukraine and the country's enterprises, whose debts are guaranteed by the state.
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