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Ukraine fails to fall in with private creditors so far — media

Ukraine wants 40% of its external debt to be written off, while its creditors are ready to cut it only by 10%

© EPA/TASS/ROMAN PILIPEY

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KIEV, August 19. /TASS/. Ukraine’s Finance Ministry continues talks with private creditors on the country’s debt restructuring, Deputy Finance Minister Igor Umansky said on Wednesday.

"The head of Ukraine’s Finance Ministry returned to the country on August 16. The talks are constantly on over the phone and on Skype," Umansky was quoted as saying by Ukrinform news agency.

The talks with creditors started on August 12 in California’s San Mateo where Franklin Templeton is headquartered. Kiev was represented by Finance Minister Natalie Jaresko, an American-born Ukrainian investment banker. On August 14, the sides said they had failed to reach an agreement and will continue negotiations.

The meeting followed 4 months of tough consultations. Ukraine wants 40% of its external debt to be written off, while its creditors are ready to cut it only by 10%.

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