Ukraine is expected to start paying off its external debt today , according to a document published on the Ukrainian government 's website﻿ , ﻿thereby facing the possibility of a technical default However , this will not include $ 3 m owed to Russia , who are demanding the debt is paid in full in December . Ukraine has to repay its debt so it can obtain a $ 17.5bn loan from the IMF , however , without an agreement with one of its largest creditors , Russia , the deal is cancelled . The IMF called on Ukraine 's creditors to write - off some of the massive debt yesterday , and help Ukraine reverse its three - year debt and halt its diplomatically - costly reliance on Moscow 's financial help .
Ukraine is expected to stop paying off its external debt today, according to a document published on the Ukrainian government's website﻿, ﻿thereby facing the risk of a technical default However, this will not include $3m owed to Russia, who are demanding the debt is paid in full in December. Ukraine has to restructure its debt so it can receive a $17.5bn loan from the IMF, however, without an agreement with one of its largest creditors, Russia, the deal is thwarted. The IMF called on Ukraine's creditors to write-off some of the massive debt yesterday, and help Ukraine reverse its three-year recession and halt its diplomatically-costly reliance on Moscow's financial help.