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Debt restructure talks deadlock as Kiev suggests 40% investor haircut
http://www.ukrainianjournal.com/index.php?w=article&id=20746Debt restructure talks deadlock as Kiev suggests 40% investor haircut
Journal Staff Report
LONDON, June 11 - Ukraine can't meet IMF terms for a bailout unless creditors write down 40 percent of the sovereign bonds they hold, a source said on Thursday in comments that suggest talks are deadlocked, Reuters reported.
Finance Minister Natalia Yaresko suggested the 40 percent write-down, or haircut, on the bonds earmarked for restructuring during a visit to Washington on Wednesday.
A source familiar with the discussions and close to the Finance Ministry told Reuters: "The ministry has calculated that a 40 percent haircut is needed to hit IMF targets."
