A top economic official says Ukraine is seeking to restructure a $3 billion dollar debt to the International Monetary Fund that's due for repayment this year.
First Deputy Economics Minister Vadim Kopylov told reporters on March 15 that the government is asking the IMF to postpone repayment of the debt by 10 years.
Getting the IMF’s approval won’t be easy, however, as cooperation with the international lender has been stalled for nearly a year due to the Ukrainian government’s refusal to implement unpopular austerity measures, such as raising gas and heating prices.
President Viktor Yanukovych is hoping to get a price discount for Russian natural gas and avoid raising prices for millions of impoverished Ukrainians. But talks with Moscow have also stalled.
