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US Treasury Secretary calls Russia to restructure Ukraine's debt
18:49, 12 November 2015
US Treasury Secretary calls Russia to restructure Ukraine's debt

Jacob Lew believes Russia's decision not to take part in restructuring is a geopolitical issue but with very significant economic consequences

18:49, 12 November 2015

AP Photo/ Virginia Mayo

The Secreatry of the US Treasury Department Jacob Lew expressed hope that Russia will reconsider its decision no to restructure Ukrainian debt. About that he told in a interview to BBC Newshour, Ukrinform reported.

Replying on a journalist’s question that as Russia is a most important creditor, yet it refused to negotiate on restructuring of Ukraine’s debt, Jacob Lew believes that Russia will reconsider its position towards the debt restructuring as it would be better for both of the countries.

Related: Cabinet of Ministers announced the start of national debt restructuring

“I certainly hope that Russia will work with Ukraine to implement the Minsk accords and get to the place where can be some more general progress in a situation there. Ultimately, it would be the best thing for the world. It would be better for both Russia and Ukraine in terms of their economies. That is not the economic issue, that is geopolitical issue but it has very significant economic consequences,” Jacob Lew stated.

Related: No compromise on debt restructuring deal for Ukraine

In addition, the Secretary welcomed Ukraine's achievements in the field of debt restructuring as well as other reforms taking into account the complicated geopolitical challenges Ukraine's been experiencing.

“They haven`t solved all their problems. I haven’t said they are not still in a very difficult situation... Particularly, in a situation where there are geopolitical threats and real-time military challenges are so real, for them to make the progress they’ve made I think is very significant. I think the debt restructuring that they have worked through with the international creditors is very significant,” the US Treasury Secretary told.

Related: Russia prepares provocation against Ukraine to pull out of the Minsk talks

Reportedly, US Treasury Secretary Jacob Lew comes with visit to Kyiv on November 13-14, according to the press service of the Treasury Department.
During the visit he is going to meet with the Minister of Finance and other senior officials to discuss current reforms, recovery of the financial sector and the fight against corruption.

Related: Ukraine finally overcame the bottom of economic crisis - Jaresko

Related: Russian "Alfa-Bank" earned $320 mln out of Ukrainian state debt - Tymoshenko

Related: Yatsenyuk’s Cabinet not to pay national debt, let others pay in future

Related: Ukraine's state debt to exceed 94% of GDP until the end of the year

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