The Ukrainian Government,
according to him, began talks with the creditors to restructure the debt. He
noted that the total amount of financial assistance from our external
partners: International Monetary Fund, G7 countries and other contributors makes
up $ 25 billion for four years: "At this, out of the sum worth 25 billion
dollars we can use a maximum of 15 billion to repay our external debts. And
the difference worth $ 10 billion to be spend to replenish
foreign reserves, which, incidentally, grew up and now make it possible to
maintain currency stability."
"So, we have for
the next four years $ 15 billion as our financial asset," he explained.
On liabilities, the Head of the Government said
that Ukraine has to pay $30 billion of the external debts and $17 billion
U.S. of internal debts in four years: “We have 15, but we owe 47 billion. The
question is: how to pay? We can't pay these debts from pockets of Ukrainians
Arseniy Yatsenyuk appealed to external creditors:
"We ask our external private creditors to listen to the proposal of the
Government of Ukraine and to restructure the debts of Ukraine, which are
owned by private lenders, on the terms proposed by the Ukrainian Government.
In the next four years we need to get a resource from this reorganisation, reduce the load on the Ukrainian state
from external debts amounting of about 15 billion U.S. dollars."
In accordance with the passed lows the Cabinet of Ministers
is entitled to set a moratorium for foreign payments on debt obligations to
exclusively private creditors on the list of duties specified in the schedule
to the law.
Arseniy Yatsenyuk stressed that such a right the
Government can use in case of need – if we do not agree with our
creditors." "And we hope that we will agree with our
creditors," the Head of Government said.
"We want to pay, but we want to pay on the
terms on which the Ukrainian Government and the Ukrainian state offers,"
Arseniy Yatsenyuk noted.
He stressed that laws mention solely private
creditors, who are holders of the state external debt of Ukraine: "we
are not talking about the state Ukrainian banks which pay their
"This debt operation that is conducted by the
Government of Ukraine together with our creditors has no negative effect on
either the Ukrainian banks or at currency exchange rate, but on the contrary
it will be positive, because after the operation the debt of Ukraine will be
smaller, and this means that the confidence of both lenders and investors
will be more, because the Ukrainian economy will be more healthy," the
Head of Government stressed.
He addressed to private lenders, "If you want
to support Ukraine, if you rightly welcome Ukrainian citizens and the
Ukrainian state, which is suffering from Russian aggression, suffering from
war, lost 20% of the economy, lost through the Russian military aggression
Crimea, where tens of thousands of Russian militaries trample Ukrainian land,
help us not by word, but a dollar, or rather, billions of dollars".
"The Ukrainian people will appreciate it and
it will be real answer and help for Ukraine, and Europe as a whole," A.
The PM appealed to the MPs of Ukraine to pass
these bills: "let's help the Ukrainian people to save money, get a
resource for the indexation of incomes. And let's release our children and
our future generations from this burden created by Yanukovych and his
The Verkhovna Rada supported the bill "On
peculiarities of transactions with the state or guaranteed by the state debt
and the local debt" (No. 2898) and corresponding amendments to the
Budget Code of Ukraine (No. 2899). 256 and 246 MPs voted “For” respectively.