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

Source : 112 Ukraine

The scheme of purchase and sale of Ukrainian state debt has become possible due to leakage of information from the Government of Ukraine, said MP Tymoshenko in the air of a political talk show "Shuster Live"
12:00, 19 September 2015

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Due to leakage of insider information from the Ukrainian government, the Russian "Alfa-Bank" was able to earn $ 320 million out of the buy and sell of Ukrainian government debt. That sum of money should have been written off by the Cabinet. About that the Verkhovna Rada deputy, leader of the "Motherland" parliamentary faction Yulia Tymoshenko told at political talk show "Shuster Live" broadcasted over "112 Ukraine" TV channel.

"Since April, when it was already known the restructuring is to be done, on the 1 st of April the state was not proceeding on the secondary market to buy its own debts, but the large stock brokerage structure instead, which buys 1.2 billion Ukrainian debt at average price of 56% . That is - 56% by value. And right after that just knowing that the so-called restructuring is to be announced, they then sell our capital issues by 79.8%, earning for a few days 320 million dollars. But the most interesting is that behind this transaction stands Russia's Alfa Bank... Such a deal was possible only when the information inside the government, the inside information leaked out and was used, actually," Tymoshenko said.

According to her, the leakage of information was provided by "Alfa-Bank" close confidents in the Cabinet.

"Government Representative for Public Debt Management, appointed by the Government, Mr. Vitalii Lisovenko, as it turned out, was holding executive positions at "Alfa-Bank" until 2014," - the deputy added.

Reportedly, Ministry of Finance refuted the information given by Yulia Tymoshenko against the Government Representative for Public Debt Management Vitalii Lisovenko that he was involved in the information leak about the national debt, the press service of the Ministry of Finance stated.

"The Ministry of Finance categorically rejects Yuliia Tymoshenko`s completely groundless accusations against Government Representative for Public Debt Management Vitalii Lisovenko, made on September 18 during her speech on television," said in a statement.

The Finance Ministry noted that negotiations with the Special Committee of creditors were held in accordance with international standards of transparency and under the supervision of the International Monetary Fund.

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Related: Ukrainian debt restructuring: decision might be close

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

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