Ukraine sinking in sea of debt

Ukraine sinking in sea of debt

Ukraine is ready to introduce a moratorium on debt payment. This became known as a result of  the official visit of Ukrainian Prime Minister Arseniy Yatsenyuk and Finance Minister Natalia Yaresko to the United States. The head of the finance department of Ukraine had a meeting with IMF Director Christine Lagarde. According to the Ukrainian official, the bailout program of the IMF was in jeopardy. Because of the protracted conflict in the Donbas and the lack of understanding between Ukraine and the IMF, 40 billion dollars could hardly be justifiable. Kiev hopes not to make any payments at least until the end of the summer.

Konstantin Ordov, Head of the Department of Financial Management at Russian Economic Institute named after Plekhanov

"Ukraine is losing its sovereignty entirely. This is just another confirmation of Ukraine's economic failure. The country is standing on the verge of another wave of economic problems. A positive development is nowhere near.  From Russia's perspective, Ukraine is still a relatively large trade partner. The presence of problems in Ukraine is a source of uncertainty in Russia's development. As for the money, the return of three billion dollars was included in the budget. Most likely, this will be a direct loss for Russia." 

Kiev hopes to receive a new tranche from the IMF in July - 1.7 billion dollars regardless of the outcome of negotiations.



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Author`s name Dmitry Sudakov