You're reading: Tigipko rules out default in Ukraine

There will be no default in Ukraine, according to Deputy Prime Minister and Social Policy Minister Sergiy Tigipko.

"There will be no default and no devaluation. I am absolutely sure of this, because today there are no economic preconditions, which could lead to this," he said during a political talk show on the Inter TV Channel on May 18.

According to Tigipko, the authorities will not allow turmoil similar to that, which was in 2008 and 2009.

"The hryvnia will be stable," he said.