Jul
02

Ukraine Gets Breakthrough With Creditors as Minister Joins Talks

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For now, the public quarreling between Ukraine and its creditors is over.

Finance Minister Natalie Jaresko will join negotiations with bondholders next week after the government said both sides agreed to take the talks private, ending two months of deadlock over the $19 billion debt restructuring. The agreement will “allow principal-to-principal negotiations on the substance of a possible solution to start next week,” Ukraine’s Finance Ministry said in an e-mailed statement Wednesday.

The breakthrough reduces the likelihood that Ukraine will impose a moratorium on interest payments before its next one comes due July 24. The government in Kiev has threatened to stop servicing its Eurobonds if its proposal, including writedowns to principal, was not accepted, while a creditor group led by Franklin Templeton insists the nation’s restructuring goals can be met by pushing back due dates and cutting interest payments…

Ukraine Gets Breakthrough With Creditors as Minister Joins Talks

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