- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Ukrainian Finance Minister Says Default Possible at End of July

© Sputnik / Alexandr Demyanchuk / Go to the mediabankUS and Ukrainian notes
US and Ukrainian notes - Sputnik International
Subscribe
According to Ukrainian Finance Minister, Ukraine may announce a default at the end of July.

A burning one hryvnia bill - Sputnik International
Goldman Sachs Predicts Solvency Crisis, Default in Ukraine as Soon as July
MOSCOW (Sputnik) Ukraine may announce a default at the end of July, Ukrainian Finance Minister Natalie Jaresko told journalists on Thursday.

"It is theoretically possible, you know that the law was adopted by the [Ukrainian parliament] Verkhovna Rada [on May 19]," Jaresko said, commenting on information on a possible default over the inability to make the next debt payment.

In May, the Ukrainian parliament adopted a bill allowing Kiev to impose a moratorium on repayment of the country's foreign debt. The law will be in force until July 1, 2016. A failure to pay will mean a Ukrainian default.

Ukraine's total debt is currently estimated at about $50 billion.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала