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 three 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.
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.