Foreign Affairs

bemildred

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3. UPDATE 1-Ukraine finmin suggests 40 pct haircut on dollar bonds - spokesman

Thu Jun 11, 2015, 10:51 AM

Jun 2015

(Reuters) - Ukraine's finance minister has suggested a 40 percent writedown on bonds earmarked for restructuring, a finance ministry spokesman said on Thursday, as creditors voiced concern over Kiev's stance in debt talks.

Ukraine needs to restructure its debt to comply with the conditions of an International Monetary Fund-led $40 billion rescue package. But a committee of its creditors refuses to accept the haircut Kiev is pressing for.

Finance Minister Natalia Yaresko and Prime Minister Arseny Yatseniuk met with the IMF in Washington this week and gave a number of media briefings.

During one of the briefings, Yaresko suggested the 40 percent writedown on the bonds' principal amount, a spokesman for the finance ministry said in emailed comments in response to a Wall Street Journal story.

http://www.reuters.com/article/2015/06/11/ukraine-bonds-haircut-idUSL5N0YX23T20150611?rpc=401

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