Poroshenko signed a law on the moratorium on the payment of debts of Ukraine – RBC

The President of Ukraine Petro Poroshenko

Photo: AFP

The President of Ukraine Petro Poroshenko signed a law that allows the country’s government to declare a moratorium on foreign debt payments. The site of the Verkhovna Rada stated that the bill passed by Parliament May 19, 2015, today returned to the parliament signed the President. By virtue of the law will come on the day following its publication in the official press.

Last week the Verkhovna Rada adopted in an expedited manner developed by the Government of the law, according to which the Cabinet is allowed to suspend payments on all or some of the public external debt and state-guaranteed loans (except for the two state-owned banks and the train operator “Ukrzaliznytsia»).

The Ministry of Finance of Ukraine welcomed the adoption of the law, explaining that it will help “protect the interests of the Ukrainian people, and in the case of fraud against creditors Ukraine to protect the assets of the state and public sector ».

In turn, Prime Minister Arseniy Yatsenyuk said that a moratorium on debt payments Cabinet can declare in the case will not be able to negotiate with creditors. The Prime Minister called on creditors to listen to the proposals on debt restructuring under the terms of Ukraine and help the Ukrainian state “not a word, and the dollar, or more precisely, the billions of dollars».

«We want to pay, but we want to pay for the the conditions on which offers the Ukrainian government and the Ukrainian state, “- said Yatsenyuk.

Russia’s Finance Minister Anton Siluanov commended the adoption by the Verkhovna Rada of the law, according to which the government obtained the right not to pay the debts, as the actual declaration of default .

«We need to analyze the impact of the adoption of this law, if we see violations of commitments that Ukraine has given, we asked for a judicial mechanism for the protection of our interests to ensure that they were not injured,” – said Siluanov.

Later, Russian President Vladimir Putin said that the actual announcement of the Ukrainian authorities about the impending default indicates a low level of professionalism and responsibility.

In the list of Ukraine’s commitments, which may extend the moratorium are mentioned and government bonds issued by Ukraine and the Russian treasury in 2013. The maturity of these securities worth $ 3 billion comes at the end of 2015. Until now, Ukraine with its obligations under debt service on the bonds to Russia in the amount of $ 3 billion served. Another payment of $ 75 million to be paid June 20, 2015.

In April 2014, the international rating agency Standart & amp; Poors (S & amp; P) stated that the default of Ukraine “almost inevitable.”