Ukrainian Prime Minister Arseniy Yatsenyuk said on Friday that his country won’t repay a $3 billion debt owed to Russia by this weekend after Moscow’s refusal to accept repayment terms already offered to other international creditors. The “moratorium” on outstanding debt repayments to Russia effectively means that Ukraine is defaulting on a $3 billion debt due Sunday and could jeopardize crucial loans that Ukraine has been receiving from a $17.5 billion bailout deal with the International Monetary Fund (IMF).
It’s the latest spat between the two neighbors following a run of gas supply disputes, Russia’s annexation of the Crimean peninsula and …read more
Source: Loop News Jamaica
