Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

dipsydoodle

(42,239 posts)
Fri Jun 20, 2014, 06:43 AM Jun 2014

Ukraine in talks with creditors on possible debt restructure.

(Reuters) - Ukraine is holding talks with creditors on restructuring its foreign currency debts, an official from an international finance association said on Thursday following recent meetings with Ukrainian officials.

Lubomir Mitov, an economist with the Institute of International Finance, said that while Ukraine's finances were precarious, it was too soon to say whether it would need to change the terms of its debt.

Mitov said Ukrainian officials stressed they would avoid forcing any so-called haircuts on bondholders in a restructuring.

"The Ukrainians authorities made very clear to us that they would consider this only as a really, truly voluntary operation agreed by the bondholders," Mitov told journalists by phone. "A voluntary exchange or maturity extension could be one of the sources for financing."

http://www.reuters.com/article/2014/06/19/ukraine-crisis-debt-idUSL2N0P00TM20140619

If / when their DP : Debt ratio crosses 60% the most recent bonds bought by Russia , $3 billion , become immediately repayable by bank transfer of funds. The IMF and EU had also made clear that none of the current funding would be made subject to write downs at future dates.

Latest Discussions»General Discussion»Ukraine in talks with cre...