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Russia makes proposition to IMF on order of Ukraine’s debt adjustment — Finance Minister

November 16, 2015, 12:36 UTC+3

The proposition will be interesting and may be taken as a basis for settlement of the problem of Ukraine’s debt to Russia, Russian Finance Minister points out

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© AP Photo/Jose Luis Magana

ANTALYA, November 16. /TASS/. Russia made a proposition to the International Monetary Fund (IMF) on the order of Ukraine’s $3 bln debt adjustment, Finance Minister Anton Siluanov said on Monday, adding that Russia's President Vladimir Putin has met the IMF Managing Director Christine Lagarde on the sidelines of the G20 summit.

"Russia has made a proposition on the order of Ukraine’s payment of its $3 bln debt, which is due to be repaid this December," Siluanov said, adding that the proposition "will be interesting and may be taken as a basis for settlement of the problem of Ukraine’s debt to Russia", without giving further details.

According to Siluanov, Russia’s proposal is addressed to obligators (Ukraine) and the IMF. The Minister added that before that he had spoken to a number of his European colleagues.

However, Siluanov said, he had not shared this proposition with Kiev yet as "Ukrainian colleagues hadn’t proposed any suggestions, different from settlement of debt to commercial creditors." "I’ve stressed it several times that we think unacceptable to speak about restructuring similar to those to commercial creditors," he said.

The Minister expressed hope that Kiev will consider the proposal and "we’ll make progress from the viewpoint of searching for compromises and solutions in /debt/ settlement."

Siluanov also said that he had not been planning a meeting with Ukraine’s Finance Minister Natalia Yaresko yet but the meeting may still take place if Kiev agrees to consider Moscow’s proposal.

"We haven’t planned any meeting with Ukraine’s Finance Minister yet though we think such a meeting may take place after our recent propositions in case our colleagues think it possible to implement our innovations," the Minister said. First of all, Moscow expects the IMF and its key shareholders to respond, and "simultaneously we’re ready to hold talks with the Ukrainian side," Siluanov added.

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