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Russia still expects Ukraine to pay coupon on its loan in December — official

November 16, 2015, 19:20 UTC+3
Vladimir Putin said that Russia had proposed to Ukraine to pay in installments in 2016-2018 years, $1 bln per year
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© ITAR-TASS/Maxim Nikitin

ANTALYA, November 16. /TASS/. After its proposal to restructure the Ukrainian debt Russia still expects Kiev to pay coupon on the $3 bln loan in December, Deputy Finance Minister Sergey Storchak told reporters on Monday.

"We proceed from the assumption that the coupon will be paid in December," he said.

In December 2013, the presidents of Russia and Ukraine, Vladimir Putin and Viktor Yanukovych agreed that Moscow would grant Kiev a credit worth $ 15 billion through the placement of Ukrainian securities.

Under this program bonds for 3 billion dollars were placed on the Irish Stock Exchange on December 20, 2013. Russia purchased the bonds using the funds from its National Welfare Fund.

Ukraine made its last coupon payments on those bonds in June. It was expected to fully pay debt in December 2015.

Earlier on Wednesday, President Vladimir Putin said that Russia had proposed to Ukraine to pay in installments in 2016-2018 years, $1 bln per year.

IMF should respond to Russia’s proposal on Ukrainian debt restructuring before Dec 8

Storchak said the International Monetary Fund and creditors of Ukraine should respond to Russia’s proposal on restructuring of Ukrainian debt before December 8.

"Vladimir Vladimirovich [Putin] set a temporary pause until 8 December. They should respond, "- Storchak said when asked when the IMF would give its response to Russia’s plan for the restructuring of the Ukrainian debt.

 

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