Ukraine attempts to renegotiate bond position

Ukraine has requested that the International Monetary Fund (IMF) restructure its debts, at the 2015 World Economic Forum in Davos.

The war-ravaged country has requested a “multi-year arrangement” with the IMF, a longer-term agreement to replace its existing $17 billion (€14.7 billion) “stand-by arrangement”, according to Christine Legarde, managing director of the IMF.

“Once we’ve come to an agreement with the IMF on the program, we will invite our sovereign creditors to consult with us on how we can work together to improve the medium term debt sustainability of the country,” Ukraine finance minister, Natalia Jaresko, said in a statement.

Legarde has indicated that she will consult with the IMF executive board on the request and, if the board agrees to proceed, the IMF mission in Kyiv will begin discussing the suggested policy program.

“Discussions are ongoing on official financing support from Ukraine’s international partners,” she said.

It is hoped that the arrangement will support macroeconomic stabilisation to restore sustainable growth in Ukraine.

©2015 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Luxembourg is one of the world’s premiere centres for cross-border distribution of investment funds. Read our special regional coverage, coinciding with the annual ALFI European Asset Management Conference.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST