Prime Minister of
Ukraine Arseniy Yatsenyuk called
on the Parliament to consider a package of bills on the restructuring and
write-off of debts under the most open procedure and hammer it home to every MP":"
We are appealing to the Parliament so that the procedure of consideration of this
matter was not hidden as
on all sorts of the previous agreements, which were signed by the previous
governments, and so that the people of Ukraine specifically knew all the
answers to the restructuring agreement," Prime Minister of Ukraine Arseniy Yatsenyuk stated in
Parliament on Thursday, 17 September.
Arseniy Yatseniuk called the current session of the Parliament
"a very important day for our country": "Ukraine's Parliament is
to consider the issue of the restructuring and write-off of debts that have
been created neither by this Government nor this Parliament, but it is our fate
to shoulder responsibility for stabilizing the financial
situation in the country, improving social standards, returning Ukraine to the
path of growth and writing off debts bred by the previous governments."
Minister reminded that after lengthy negotiations for almost six months, the
Government managed to obtain the consent of creditors to a 20% writedown of Ukraine’s foreign debt: "It is about a $3.6
billion write-off, as well as about additional savings and de facto write-off
of interest we
had to pay till 2040, totaling $5.9 billion."
The deal includes
a freeze on debt repayments amounting $11 billion for four years.
"This deal has
been approved by the entire international community. This
deal is directly supported by our primary investor and creditor - the
International Monetary Fund. It is backed by
all the governments of the Group of Seven. This
agreement is not supported only by one country - the Russian Federation,"
Therefore, the PM
pointed out, the Russian Federation remains the only country that refused to
participate in the committee of creditors and accept the conditions supported
by other creditors: "Russia demands the repayment of the whole debt."
this rostrum, I want to declare once again that there will not be better
conditions for Russia," Arseniy Yatsenyuk emphasised.
He appealed to
MPs: "It is about the future of the country. It
is about one of the major financial deals in the history of the country. Voting
for this package means voting for economic growth, for inflow of foreign
investment, creation of new jobs and increasing wages, pensions and social
Voting for the debt
restructuring and write-off gives an additional financial resource to the
country that enable to carry out further economic reforms, he said.
"Non-voting for this package means the de facto announcement of
for this package means that Ukrainian citizens would not be able to have an
increase in social benefits, standards, pensions and wages," the Prime
Minister pointed out.
with the support by the Verkhovna Rada
of Ukraine, which I hope for, is to write off debts and enable the Ukrainian
economy to grow, and Ukrainians to receive a decent salary and be able to keep
on building up the basis for economic growth of the country. I
am confident that today we will take a proper state solution," Arseniy Yatsenyuk highlighted.