Ukrainian Finance Minister Natalie Jaresko said in an Sunday interview with the Ukrainian 1+1 TV channel she was ready to join the talks with Kiev’s international creditors in the United States as soon as they were ready to discuss the restructuring of Ukraine’s debt.
“I hope that will be the day… in just two or four days, when they sit at the [negotiations] table. As soon as everyone is ready to… discuss [Ukraine’s] debt restructuring, I am ready to join in a day.”
The minister also added that Kiev will take advantage of the right to a moratorium on debt payments if no agreement is reached with the creditors. According to her, the suspension of debt payments equal technical default, but citizens should not “be afraid of the word” because it does not affect the banking system of Ukraine, and does not affect the Ukrainian national currency.
Jaresko added that the $3 billion debt which Kiev owes to Russia should also be restructured, which was essential for the “equal relationship.”
On Friday, Jaresko said the creditor group had refused to contribute to Ukraine’s recovery, warning that Kiev was ready to cut off debt payments if negotiations did not progress.
She added she was not going to join the Washington talks because they were “technical.” In turn, the creditors urged Ukrainian Finance minister to join the talks.
The total public debt of Ukraine is some $70 billion dollars, $40 billion of which make up the foreign debt.