Ukraine faces a looming debt default after the country’s finance ministry said Thursday that the country cannot make a $3 billion debt due to Russia this weekend without violating a debt-restructuring deal with other international creditors.
Ukraine, which is supposed to pay down the debt by Sunday, said it is ready to keep negotiating with Russia about restructuring the debt. Russia has said it would sue Ukraine if it doesn’t get its money back on time.
Relations between the two neighbors soured after Russia annexed the Crimean peninsula in March 2014 and threw its backing behind separatist rebels in eastern Ukraine. Ukrainian …read more
Source: Voice of America
