Ukraine Will not Declare Default - Yatsenyuk

Ukraine is not going to declare default in the near future as it has all the resources to meet its obligations, including obligations under the debt securities issued in exchange for a loan from the Russian Federation.

Prime Minister Yatsenyuk said this during a speech at the Council of Foreign Relations in New York, Censor.NET reports citing UNIAN

"The former government had concluded several deals with Russia, which were rather political. The Russians are no fools - they put a lot of hooks by which we are hitched on today. But I want to be quite clear: we do our best to stabilize the financial situation in the country," Yatsenyuk said.

He stressed that financial stability is a key requirement of the major Ukrainian creditor - the International Monetary Fund. "The program written with the IMF was considered to be a peaceful one. Now we have somewhat different realities and perhaps we will review a number of provisions of the program. But we are confident that Ukraine will not declare a default," the head of government assured.

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