Cabinet assures there will be no default in Ukraine

Source : 112 Ukraine

According to the finance minister, default is not a practice to be copied
22:10, 19 September 2020

Open source

Ukrainian Finance Minister Serhiy Marchenko ruled out the possibility of default in Ukraine. He announced this in an interview with Radio Liberty.

The minister cited the example of Argentina, which has defaulted for the 9th time.

"Do you think it is possible to deceive your neighbors 9 times? Is this a normal practice? I believe that even once, if you do this, the next time they just won't open the door for you", said Marchenko.

According to him, default is not a practice that can be implemented.

"You can't do this. This is not a practice that should be copied at all and we shouldn't even talk about it, shouldn't say that these are great initiatives! When respected MPs talk about this, my hair stands on end. I think: okay, this can be done once, and then forget about everything else for 5 years. Nobody will trust you," the minister said.

Related: Germany’s Economy Minister doubts effectiveness of new sanctions against Russia

Earlier, Finance Minister who held talks with an IMF representative, assured that Ukraine would receive a tranche from the Fund this year.

"We are not considering other scenarios. The issue of the tranche is this year, we must receive it to finance the budget. After the mission arrives, it will be possible to speak in more detail," Marchenko said.

He said that during a meeting with an IMF representative on September 18, issues on the budget were raised. The key task of Ukraine is to obtain a revision of the program; in the near future it is necessary to receive  information from the mission representative on when this happens.

Marchenko said that the IMF representatives received the budget parameters 2 weeks ago. According to him, next week a discussion of indicators is expected - "what was planned, why, budget deficit volume, all parameters."

Related: Head of Luhansk region stands for stop of economic blockade of occupied Donbas

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