Acting transparently, with constructive intentions, the Finance Ministry of Ukraine agreed to reschedule the meeting planned for Thursday upon the request of the Special Creditors' Committee. The meeting will be held on Monday or Tuesday next week to give the committee more time to prepare an improved and renewed suggestion on debt restructuring, reads the Finance Ministry's statement on Aug. 5.
“However, taking into account legal and time limitations in the issue of achieving and realizing any kind of an agreement on debt restructuring, in case of inability to achieve such an agreement on the state level at the beginning of next week, Ukraine will have to use alternative mechanisms to ensure funding of its IMF cooperation program,” the ministry noted.
“Due to these limitations, this is also the last opportunity to achieve a joint agreement before paying under Eurobonds in September and October, as well as on the eve of next review of IMF-Ukraine cooperation program, which is currently planned for September,” Finance Ministry reported.
