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Ukraine is not facing threat of default, says premier

August 30, 2012, 23:43 UTC+3
“There are no grounds at all for thinking or speculating about any prospects for a default at present,” Nikolai Azarov said
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KIEV, August 30 (Itar-Tass) — Ukraine is not facing any threat of a default, Prime Minister Nikolai Azarov said in an interview with the Kiev-based Channel Five Thursday.

“There are no grounds at all for thinking or speculating about any prospects for a default at present,” he said. “Default means inability of a country and its government to pay on liabilities.”

“Given we’re amid an election period, all the claims by politicians should be measured against their ambitions,” Azarov said. “We hear predictions of a default throughout the two and a half years of our work but the real situation is absolutely different.”

He stressed the availability of foreign currency reserves that are quite sufficient for paying out the debts.

“We make all the payments on time and we haven’t postponed a single repayment so far,” Azarov said. “All our creditors feel quiet and point out our punctuality in paying on all the debts.”

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