LONDON (Reuters) -A soon-to-be-released review by the International Monetary Fund of Ukraine's debt sustainability is the next logical opportunity to restart broken-down talks over restructuring its
Ukraine Considers Debt Restructuring Talks Following IMF Review
LONDON (Reuters) -A soon-to-be-released review by the International Monetary Fund of Ukraine's debt sustainability is the next logical opportunity to restart broken-down talks over restructuring its GDP-linked warrants, said the country's debt chief Yuriy Butsa.
Butsa told the Financial Times' Global Borrowers & Bond Investors Forum in London on Tuesday that the next IMF review was due to be released in the next week or two and that the new information would be a chance to talk to debt holders again.
IMF Executive Board is expected to meet late next week to sign off the latest review of Ukraine's $15.5 billion, four-year support programme following a staff level agreement in late May.
Sign off by the IMF Executive Board will trigger a payout of around $500 million to Kyiv and see the publication of the Fund's latest assessments and forecasts, which would serve as a basis for the next round of talks with warrantholders.
The IMF has urged Ukraine to continue with "good faith" efforts to reach an agreement with investors holding its GDP warrants after it defaulted on a payment on the growth-linked fixed income instruments in May.
Asked by Reuters for further details, Butsa said it would only make sense to hold talks if warrantholders now had a "comprehensive" plan in mind for how to restructure the debt.
(Reporting by Marc Jones, writing by Karin Strohecker, Editing by Franklin Paul)
