’s demands: Ukraine is still heading for a full - scale default on its public debt of $ 70bn , of which $ 40bn is owed by foreign creditors , and the rest by private or public entities . It has already " technically " default on a $ 550 m Eurobond on October 5 ; Aurelius Capital and Apollo Management hedge funds are the suspected private bondholders , who , if Ukraine does not pay within 90 days of the default declared , can start eating into Ukraine 's assets . The $ 3bn loan from Russia , due in October , is expected to default as well , since Ukraine does not have the money . At the same time , the International Monetary Fund ( IMF ) , which is Ukraine 's largest official donor , is under increased pressure from Washington to rewrite the international debt in favour of Ukraine , so that Russia 's debt can be treated as commercial credit . Analysts are concerned that Ukraine 's debt problems may also lead to the demise of the IMF itself .
Ukraine is still heading for a full - scale default on its public debt of $ 70bn , of which $ 40bn is owed by foreign creditors , and the rest by private or public entities . It has already " technically " default on a $ 550 m Eurobond on October 5 ; Aurelius Capital and Apollo Management hedge funds are the suspected private bondholders , who , if Ukraine does not pay within 90 days of the default declared , can start eating into Ukraine 's assets . The $ 3bn loan from Russia , due in October , is expected to default as well , since Ukraine does not have the money . At the same time , the International Monetary Fund ( IMF ) , which is Ukraine 's largest official donor , is under increased pressure from Washington to rewrite the international debt in favour of Ukraine , so that Russia 's debt can be treated as commercial credit . Analysts are concerned that Ukraine 's debt problems may also lead to the demise of the IMF itself .