Russia’s $3 billion holding of Ukrainian debt should be classified as ‘official’

Russia’s $3 billion holding of Ukrainian debt should be classified as ‘official’ debt, an IMF spokesman said on Thursday, weighing in on what has become a contentious issue in Kiev’s economic situation.
Ukraine, which recently received a $17.5 billion bailout from the International Monetary Fund, must come up with at least $15.3 billion from sovereign debt restructuring under the conditions of the program. But Russia, which holds a $3 billion Eurobond from Ukraine, has so far refused to participate in the restructuring.
«If I’m not mistaken, the $3 billion Eurobond comes from the Russian sovereign wealth fund, so it’s official debt,» IMF spokesman William Murray told reporters. He did not say that this precluded Russia’s involvement in Ukraine’s debt talks.
Countries borrowing money from the IMF are also not allowed to be behind in debt payments due to other governments, he said, without specifically commenting on what that means for Ukraine’s IMF program. Ukraine’s Eurobond from Russia comes due in December.
Russia, which Western countries accuse of military intervention in eastern Ukraine, has also suggested its bonds should be classed as sovereign debt and thus subject to the Paris Club of creditor governments, not Kiev’s talks with private creditors.
The status of the bonds could prove a stumbling block in Ukraine’s discussions with creditors, which it hopes to conclude by June, in time for the next IMF review of its program.
Ukraine’s finance minister Natalia Yaresko has said Russia’s Eurobond should be part of the debt restructuring, and invited Moscow to participate
Запись Russia’s $3 billion holding of Ukrainian debt should be classified as ‘official’ впервые появилась Новостной интернет-портал.

Продолжение здесь: IPnews

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