IMF asks Russia to delay Ukraine's debt payment

IMF asks Russia to delay Ukraine's debt payment. Ukraine may not receive another tranche from IMF

The next tranche from the IMF to Ukraine is likely to be delayed. The work on the program will not be not possible until all 15 billion dollars are collected. If the amount is not collected, Ukraine will face a formal default caused by the need to restructure its debt.

The IMF, to facilitate the transfer of financial assistance to Ukraine, offers Russia to allow Ukraine to delay the payment of its debt on Eurobonds for several years ahead. Otherwise, other countries may refuse to allocate financial assistance to Ukraine.

"The IMF will not be able to assign $15 billion at once. The IMF board of directors is not likely to agree upon the allocation of such a large amount. The maximum the fund can allocate is 7-8 billion dollars. For Europe and America the allocation of funds lies within the sphere of a political conflict," RIA Novosti reports. 

In 2015, Ukraine has to pay six and a half billion dollars of debt - a half of this amount is to be paid to Russia. Sources say that the Russian authorities have showed a negative reaction to the IMF's suggestion for the time being.