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 Ukraine to agree on 40% debt remission by late September

Ukraine will not fail in its plans, aimed, inter alia, at agreeing on writing off 40% of its debt with creditors.

This is stated in an updated memorandum of cooperation between Ukraine and the International Monetary Fund, Censor.NET reports citing Hlavkom.

"We are further determined to complete the debt transaction in accordance with the defined objectives," the document reads.

Read more: IMF Executive Board completes first review of Ukraine's EFF

At the same time, debt recession talks are to end before the end of September.

"We are proceeding in talks with creditors on debt restructuring, which we intend to finish before the end of September 2015," the memorandum reads.

However, Kyiv recognized that despite its efforts, "the progress in debt restructuring is slower than expected."

Read more: Ukraine receives another IMF tranche

 
 
 
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