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Ukraine must restructure $23 billion debt

Ukraine must restructure $23 billion debt

Prime Minister Yatseniuk says that the main task of Ukraine is to restructure $23 billion debt.

One of key tasks of Ukrainian government is to hold negotiations concerning restructuring of part of external debt in the amount of $23 billion which is budget of the budget and economy in general.

‘The main thing to be done is to restructure a significant amount of debt which now is a heavy burden for Ukrainian economy. $23 billion must be restructured’, – the head of government said.

According to Yatseniuk, currently negotiations with creditors are being held/ ‘Creditors want to get more. And I want to pay less. And we will hold discussion because and I will protect national interests of Ukrainian state’, – Yatseniuk said.

The Prime Minister also underlined that currently Ukraine is in extremely difficult condition.

‘We are in difficult circumstances, and in these circumstances we will perform our common program with International Monetary Fund to remove the burden from Ukrainian economy and create foundation for economic growth’.

Prime Minister promised that 2016 will be the first year of economic growth in Ukraine.

Total external debt of Ukraine is $70 billion. Restructuring of debts is the key demand of Ukraine’s main creditor International Monetary Fund. It aims to achieve the required ratio on no more than 71% between amount of country’s debt and GDP.


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