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Kiev to make $75mln Russian debt payment on June 22 — Ukraine's finance minister

June 19, 2015, 15:41 UTC+3

Ukraine will continue servicing debts, Natalie Jaresko said

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Ukraine's Finance Minister Natalie Jaresko

Ukraine's Finance Minister Natalie Jaresko


KIEV, June 19. /TASS/. Ukraine's Finance Minister Natalie Jaresko confirmed on Friday that Kiev was ready to repay $75 million of $3 billion debt to Russia next week.

"Ukraine will continue servicing debts. A Eurobond payment will be made on June 22," the minister said.

Kiev is working on this loan on "equal conditions," she added. "Two days ago we paid $39 million on other Eurobonds and we will pay [on June 22]," the minister said.

Ukraine, the International Monetary Fund (IMF) and the creditor’s committee will meet next week, she confirmed.

"Today we are submitting a new proposal, it will include decreasing the sum of the debt, changing an interest rate and extending the repayment period," Jaresko said.

The minister said Ukraine does not agree to the current demand of the creditors to "use $8 billion on debts from the reserves of the National Bank of Ukraine." This does not comply with the IMF rules, she said.

Russia’s Deputy Finance Minister Sergey Storchak said on Friday Ukraine will repay bond coupon to Russia on June 22 with 100% probability.

"I think the probability of payment is close to 100% as today it’s absolutely evident that Ukraine is interested in it," he said in an interview aired by the Rossiya-24 TV news channel.

He said if Ukraine does not repay coupon "this automatically starts the covenant, which is called the event of default."

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