"Let Russia determine the fate of the loan, which they
gave Mr. Yanukovych for his failure to sign the political Association Agreement
with the European Union", said the Prime Minister of Ukraine Arseniy
Yatsenyuk at the meeting of the Financial Stability Board on Monday, September
He reminded that approximately US $ 4 billion in debt had
been forgiven for Ukraine, "and that's without taking into account the
interest we had to pay", and paying off the previous loans had been
postponed for 4 years.
The Prime Minister also noted that the Russian Federation had
not participated in a meeting of the Ad-Hoc Creditors' Committee: "Russia is
to decide what should happened to their debt. We have agreed
that the debt should be restructured. We offered terms. Other conditions, and
even better conditions, won’t be offered regarding Russian debt".
"So, let Russia determine the
fate of the loan, which they gave Mr. Yanukovych for his failure to sign the
political Association Agreement with the European Union," Arseniy
"During recent one-and-half years there was little hope
that the financial and economic system of the state would survive. But we have acquitted
all current debts – it concerned both the domestic and foreign debts. And we
have debarred the country’s default,” Prime Minister of Ukraine highlighted.
The Head of Government views preserving of moderate
inflation among the key tasks for Ukraine: "There is a lot for us to do to
introduce real inflation targeting".
Other objectives include "an exchange rate stability,
stability in the finance and banking sectors".
"The world is rapidly changing, so a lot depends on how
global economies will be affected. The challenges that now occurred in China,
India, Kazakhstan, Russia, Belarus and other countries, directly affect
Ukraine, as Ukraine is part of the global economy. That is why we have gathered
here today to assess all possible risks which might occur and find response to
these risks to be ready to address", said Arseniy Yatsenyuk.