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Russia expects Ukraine to pay $75 million

June 22, 2015, 9:50 UTC+3 KIEV
According to Ukraine’s Finance Ministry, Kiev has been in talks with international creditors on restructuring part of the debt worth around $23 billion, while total debt is worth around $70 billion
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© EPA/TASS/ROMAN PILIPEY

KIEV, June 22. /TASS/. Ukraine is expected to make its $75 million coupon payment to Russia today, otherwise Kiev may face default.

The coupon will be made on $3 billion Eurobonds which Russia bought from Viktor Yanukovych’s government in December 2013.

"We admit that there is a $3 billion debt, just like any other Eurobond, but I don’t hide my intentions to restructure this debt," Ukraine’s Finance Minister Natalia Yaresko said. "I am doing everything I can," she added.

Renowned Ukrainian expert Viktor Suslov, who served as finance minister, said Ukraine will make its coupon payment on Eurobonds worth $3 billion in order to avoid default. "The time is running out for making another coupon payment. Ukraine should pay around $75 million no later than June 22 to service the debt. If it was possible earlier to have a good time and not acknowledge the debt, now we face a serious threat of default," Suslov noted.

According to Ukraine’s Finance Ministry, Kiev has been in talks with international creditors since March on restructuring part of the debt worth around $23 billion, while total debt is worth around $70 billion. The package of financial aid to Ukraine for the next four years constitutes $40 billion. From the beginning of 2015, Ukraine received $6 billion from international creditors in financial assistance, in 2014 - around $9 billion. Ukraine plans to save around $15.3 billion on debt payments.

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