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Ukraine’s talks with US private creditors extended for another day

August 13, 2015, 8:58 UTC+3 LOS ANGELES
Kiev wants 40% of its debt to be written off, while its creditors are ready to cut it only by 10%
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© ITAR-TASS/Maxim Nikitin

LOS ANGELES, August 13. /TASS/. A creditors' committee made up of private holders of Ukraine's sovereign debt failed to reach a preliminary agreement with the country’s government on Wednesday on how to restructure some $19 billion.

A source close to the American holding company, Franklin Templeton, the biggest holder of Ukrainian debt, told TASS that a decision has been made to extend the negotiations for another day.

The talks are held in California’s San Mateo, where Franklin Templeton is headquartered. Kiev is represented by Finance Minister Natalie Jaresko, an American-born Ukrainian investment banker.

Ukraine wants 40% of its debt to be written off, while its creditors are ready to cut it only by 10%. Serious differences in the negotiating process remain between Ukraine and its creditors.

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