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Ukraine’s finance minister upbeat on reaching agreement with creditors

April 17, 2015, 8:38 UTC+3 WASHINGTON
The IMF has insisted that Ukraine should reach a deal with creditors by June
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Ukrainian Finance Minister Natalie Jaresko

Ukrainian Finance Minister Natalie Jaresko

© AP Photo/Efrem Lukatsky

WASHINGTON, April 17. /TASS/. Ukrainian Finance Minister Natalie Jaresko said on Thursday she is convinced that her government will meet the deadline to agree with creditors and keep the International Monetary Fund (IMF) program of anti-crisis support.

"We have no right to fail," Jaresko said answering a TASS correspondent’s question at the US Chamber of Commerce in Washington.

Russia, one of Ukraine’s biggest creditors, has already announced that it was not ready to agree to the restructuring of its $3 billion loan. Jaresko said however she was not sure about this.

The minister said she has sent to the Russian holders of Ukrainian bonds an invitation for talks via a clearing system, but has not yet received a response. "This is not a state but a private loan," she said.

The IMF has insisted that Ukraine should reach a deal with creditors by June. Speaking on the plans, Jaresko said: "We should come to an agreement by the end of May."

Ukraine received $17.5 billion from the International Monetary Fund in February. Ukraine should restructure its $15.3 billion debt to private investors under conditions of the agreement. Russia does not plan to participate in the restructuring program and expects debt repayment in December 2015.

Russian Finance Minister Anton Siluanov said earlier this week Ukraine assured Moscow it would honor commitments to repay the $3 billion worth loan. Russia will apply to an international court if loan conditions are breached, he added.

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