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 Yatseniuk on foreign debt restructuring: creditors must understand our situation and help Ukraine

Prime Minister of Ukraine Arsenii Yatseniuk calls on Ukraine’s lenders to meet the country halfway and restructure the foreign debts.

He stated this today during the 'Hour of Questions to the Government', Censor.NET reports.

Yatseniuk noted that the external debt of Ukraine increased significantly during the presidency of Viktor Yanukovych.

"When Yanukovych became president, foreign debt amounted to $31 billion. When he fled, the external debt was $72 billion. We cannot pay the loans at the expense of salaries and pensions. There is nothing to pay [the debts]," the prime minister said.

Read also: Lenders delay decision on restructuring Ukraine's debt - Finance Minister Jaresko

He also noted that all the funds that Ukraine received from the international financial institutions in the past year were directed solely to cover the country's external debt. Now, according to Yatseniuk, the external debt of the country amounts to $68 billion.

At that, Ukraine needs to restructure $15 billion of foreign debt. According to him, part of the debt will be repaid from the funds received from the IMF under the current agreement. He reminded that Ukraine will receive $25 billion from the IMF.

"The country is at war, we lost 20% of the economy, we turned to our creditors with a clear position regarding the restructuring. And we ask, and appeal, and insist that foreign creditors realize the current situation and accept our offer. We are asking the external creditors to help Ukraine. Now is the time to help," he said.


 
 
 
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