The Infrastructure Ministry of Ukraine is participating in negotiations on restructuring the internal debt of Ukrzaliznytsia and predicts that the process will be finished by the end of the summer, Minister Andriy Pyvovarsky has said.
“I’ve just visited the National Bank of Ukraine. I want to confirm, as we planned, that by the end of summer [the debt] will be restructured,” he said at a briefing in Kyiv last week.
As reported, on May 12 Ukrzaliznytsia said it had violated the payment schedule for the principal of the debt under some bilateral credit agreements and announced cross default on eurobonds. It plans to restructure its debt to private creditors worth Hr 32 billion, with a total debt of Hr 37.5 billion, including internal debt of Hr 22 billion.
