The international lenders have put forward a proposal to Kiev on Ukraine’s debt restructuring by writing off 20% of its volume, writes Financial Times, citing a source close to the negotiations.
According to the publication, 20% reduction of the debt – this latest offering that is on the table of negotiations between creditors and Kiev, as both sides are trying to implement a plan to rescue the IMF in Ukraine by reducing the debt owned by private lenders, to $ 15.3 billion over the next four years.
The agreement has not been signed, but the proposal of creditors indicates that both sides seek to reach a preliminary agreement to reach an agreement, said the source publication. According to him, the agreement could be signed this week.
Two weeks ago, the Kiev flew to San Francisco, where he based the largest creditor of Ukraine – an investment company Franklin Templeton. Kyiv expects a 40% reduction of its debt, the newspaper notes.
The negotiations between private creditors and the debt restructuring Kiev continues from March this year. In late July, WSJ and Reuters reported, citing unnamed sources, that Franklin Templeton has agreed to write off up to 5% attributable to a Ukrainian state debt (he owned bonds worth more than $ 7 billion). With write off 40% of the national debt the Ministry of Finance Ukraine made in June this year . The initiative was then criticized by the creditors’ committee.
In mid-August financier George Soros called on creditors to write off part of the debts of Ukraine. In the opinion of the businessman, it will allow Ukraine to restore its economy and return to the debt market.
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