The International Monetary Fund on Tuesday urged Ukraine and its creditors to reach an agreement over debt restructuring after meeting with both sides in Washington, Censor.NET reports citing Reuters.
No key arrangements were reached at the meeting. However, the parties agreed regarding restructuring of the state debt of Ukraine.
The IMF said the meeting focused on the objectives of the debt operation and the IMF's macroeconomic forecasts. Agreeing on a debt restructuring is one of the conditions Kyiv must meet under the IMF's $17.5 billion bailout program.
"The Fund encourages Ukraine and its creditors to continue efforts to reach an agreement that meets the financing and debt objectives under the authorities' economic reform program supported by the IMF," the Fund said in a statement.
A source close to the Washington talks said that the meeting had not been intended for reaching any key agreements between Ukraine and its creditors. The talks were technical, aimed at check up of economic showings and forecasts on Ukraine, in particular, "Ukraine's ability to pay its debts."