IMF's evaluating Ukraine's debt sustainability involves restructuring of 'Russian' eurobonds for $3 bln
The International Monetary Fund's (IMF) evaluating Ukraine's debt sustainability involves the restructuring of eurobonds worth $3 billion belonging to the Russian Federation.
According to the fund's report posted on its website, the agreement on restructuring will be achieved. The absence of writing-off the debt principal, the schedule of debt repayment, as well as the interest rate will correspond to the debt objectives of the EFF program.
The report o notes the parties continue negotiations on debt restructuring. They have not succeeded so far and should continue in the nearest time.
As reported, in October 2015 after the talks, which lasted for about half a year, the holders of 13 out of the 14 issues of Ukrainian eurobonds totaling $14.36 billion and EUR600 million supported their restructuring. It involves the exchange of 80% of the sum for new eurobonds with maturity prolongation for four years, 20% for state derivatives, repayments on which in 2021-2040 will depend on the pace of GDP growth in the country.
