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 Ukrainian Politics, Incidents, Economics
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 Yatseniuk: We would be happy to repay our debt but on terms and conditions offered by the Ukrainian government

Ukraine will pay its international debts only on its own terms.

Ukrainian PM Arsenii Yatseniuk said in an interview with The Financial Times, when asked whether Ukraine prepared to default if creditors don't agree to a debt reduction, Censor.NET reports.

"Let me put it this way: we would be happy to repay our debt. But on the terms and conditions that are offered by the Ukrainian government. And I ask our international creditors to be co-operative and collaborative. This is about justice. Ukrainian people have sacrificed and paid too much. The external debt was about $72bn, so I reduced it in 12 months to $69bn. Look at the numbers for the next four years. Former president Yanukovych who fled the country - it's amazing - in three years he [borrowed] $40bn. So international creditors were so generous and benign to president Yanukovych, knowing that he is definitely not the best guy in the world. But they offered to his dictatorship regime $40bn. And today we have to repay this debt. For 2014, from all our international creditors - international support, the programme with the IMF - last year we received $9bn. This is the support we got. And we paid back to our international creditors $14bn. A type of Ukrainian business with a negative $5bn margin!" the Ukrainian PM said.

Read more: Yatseniuk: Poroshenko and I will never allow to have a copycat case of relations between Yushchenko and Tymoshenko

Yatseniuk reminded that under the IMF programme, Ukraine is to get $17.5bn, and $7.5bn from other international creditors. Only $15bn of this cash will be allowed to use to repay the countrie's international debt. At the same time the state have to repay $30bn back to its international creditors in the next four years and an additional $17bn for the domestic debt. The overall number is $47bn, minus $15bn, so the negative margin is $32bn.

"We ask private creditors to support Ukraine, and in this case to sacrifice their own share," Yatseniuk said.

He added that the parliament has passed the bill that allows the government to pass a moratorium saying that he will have no other option, other than to make this tough decision if a compromise with the creditors is not found.

"There is one country, with a population four times less than Ukraine. It collected $300bn, and never passed these kinds of tough reforms that Ukraine already passed. And never had a war with Russia, thank God. And Ukraine, with one even can say almost insurmountable problems, was promised $25bn. This is the comparison," he noted

Yatseniuk added that he is begging not for credits but for investments saying that Ukraine is a country with huge potential.

Read also: Private creditors responsible for lending $40 billion to Yanukovych regime, Yatsenyuk says

Read the full text of the interview: YATSENIUK: "DO NOT BE SCARED OF RUSSIA. IT IS FOR RUSSIA TO BE SCARED OF ALL OF US

 
 
 
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