Kyiv City Council from Nov. 6 imposed a temporary moratorium on Kyiv's foreign debt repayments.
Some 90 deputies supported the decision at a meeting of the city council.
The head of the profile budget commission at the city council, Andriy Strannikov, said that at present Kyiv’s debt obligations come to Hr 18 billion and annually Hr 2 million is needed for their servicing.
According to him, Kyiv for several weeks had held talks with the special commission of creditors on restructuring the foreign debt. However, according to him, the outcome of these negotiations is “far from understanding.”
“Today we can state that the positions are gradually converging and this is encouraging, but now these positions in negotiations with the lenders are far from full understanding,” he said.
He explained the lenders say the capital has enough funds to repay its debts now and in the future, while Kyiv is now preparing for the heating season and, first of all, uses budget funds to provide Kyiv residents with heat, energy, for housing repairs and insulation, installation of heat meters.
