““Ukraine intends to continue interaction with the holders of the Vaunta and consider all available options,” the government’s statement says”, – WRITE: www.radiosvoboda.org
According to the statement, representatives of Ukraine met with individual members of the Committee, consisting of institutional owners of securities of Ukraine, tied to its GDP (Varant), totaling more than $ 3.23 billion.
Paper owners reported that they could not accept the proposal of Ukraine and gave it a counter -proposal.
“Ukraine noted that she could not accept the proposal of restricted owners, and abandoned further proposals to restricted owners before the end of the limited period. Ukraine intends to continue interacting with the holders of the Vaunta and consider all available options, ”the statement said.
According to Financial Times, in May, Kiev has to pay $ 600 million under debt or declare a default.
Minister of Finance Sergey Marchenko commented Government statement on the Euronext exchange, indicating unprecedented damage caused to Ukraine by Russian aggression.
“Economic losses are already estimated at hundreds of billions of euros, and infrastructure across the country has undergone significant destruction. According to the World Bank estimates, recovery costs may exceed 500 billion euros over the next decade. Financial stability and debt are critical for the full restoration and development of Ukraine, ”he said.
According to Marchenko, GDP-Varants are created “for economic reality that no longer exists” and should not interfere with the restoration of Ukraine. He called the goal of the government to find a fair and comprehensive solution to the issue.
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Marchenko said that the meeting, which lasted from April 15 to April 23, passed with members of the Special Committee, which includes owners of about 30% of GDP of Vaunta Ukraine. Ukraine has offered GDP owners the exchange of Vaunta for additional issue of Eurobonds issued within the limits of restructuring of 2024, or a change in the conditions of GDP variations.
Instead, according to Marchenko, the Special Committee suggested that Ukraine pay the 75% of the payment in May this year, the owners of the Varantes for GDP growth in 2023 and release new C bonds with a rate of 7.75% for the amount of $ 209 million with repayment in February 2029. Ukraine has rejected this proposal.
“Ukraine remains tuned to carry out constructive negotiations with all GDP owners of Vaunta in order to find a solution that allows to ensure long -term debt resilience, without creating a threat to rebuild and restore the country,” Marchenko added.
The Executive Council of the International Monetary Fund on March 28 completed the seventh view of the mechanism Extended financing for Ukraine. The decision allowed the authorities of Ukraine to attract $ 0.4 billion, which will be “aimed at supporting the budget.” Therefore, the amount of total IMF payments will reach $ 10.1 billion.
