{"id":29386,"date":"2015-08-30T20:16:03","date_gmt":"2015-08-30T18:16:03","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=29386"},"modified":"2015-08-30T20:16:37","modified_gmt":"2015-08-30T18:16:37","slug":"29386","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/29386\/","title":{"rendered":"Solving Ukraine’s Debts?"},"content":{"rendered":"

Ukraine\u2019s finance minister said a \u201cwin-win\u201d deal for restructuring $18 billion of debt had been agreed with a group of its largest creditors. Poroshenko is\u00a0looking to meet all the conditions of the emergency assistance from the International Monetary Fund. \u00a0Debt restructuring should save the country $15.3 billion through 2018, while attempting to end the worst recession of anywhere across Africa, Europe and the Middle East. The government will not have to make interest or principal payments until 2019.<\/p>\n

The deal also includes a so-called GDP growth warrant that will kick in from 2021 through 2040.<\/p>\n

Ukraine\u2019s US-born finance minister Natalie Jaresko said\u00a0she nailed the debt deal that pulled the ex-Soviet country back from the brink.<\/p>\n

Ukraine agreed to raise its coupon rates to 7.75 per cent from 7.2 per cent while the lenders accepted slightly longer repayment terms.<\/p>\n

German Chancellor Angela Merkel and French President Francois Hollande \u2013 co-sponsors of an increasingly tattered six-month-old truce \u2013 reaffirmed their<\/em> support for the deal.<\/p>\n

Ukraine<\/b> started negotiations requesting a 40% haircut on the creditors\u2019 holdings.<\/p>\n

Franklin Templeton and three other global financial titans led to a 20-percent write-down or \u201chaircut\u201d to the face value of the bonds they<\/em> hold, a deal that saves Ukraine 11.5 billion. The EU is brokering negotiations between Moscow and Kiev to secure gas supplies for the upcoming winter, but there has been little progress so far.<\/p>\n

Still unresolved is the fate of the $3 billion Russian\u00a0loan, given to prop up the regime of former president Viktor Yanukovych before he was ousted past year.<\/p>\n

EU President Juncker \u00a0gave assurances on highly anticipated plans to lift visa requirements for citizens of Ukraine visiting the EU, and said he expects the commission to give a green light by the end of the year.<\/p>\n

Moscow insists that the debt be treated as a sovereign obligation, while Kiev\u00a0is treating it as a commercial debt.<\/p>\n

\"Ukraine<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Ukraine\u2019s finance minister said a \u201cwin-win\u201d deal for restructuring $18 billion of debt had been agreed with a group of its largest creditors. Poroshenko is\u00a0looking to meet all the conditions of the emergency assistance from the International Monetary Fund. \u00a0Debt … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-29386","post","type-post","status-publish","format-standard","hentry","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t