Yaresko: Possibility of technical default in Ukraine remains

The possibility of introducing the Ukrainian government moratorium on the payment of the external debt of the country today remains.
This was stated on Wednesday in Washington, Finance Minister Natalia Yaresko, reports Ukrinform.

“Obviously, he (the moratorium - Ed.) Can be theoretically it could happen” - said the head of the Ministry of Finance.
She noted that the Ukrainian government is working hard to achieve progress in the agreements with creditors.

At the same time, she said, even if such a moratorium and will be announced, it should not affect the hryvnia.
“In my opinion, on the economic arithmetic should not be any negative impact on the hryvnia. One, arithmetically speaking, the money, the currency that was supposed to be used for the payments would come out of the country, and the suspension of payments, it remains in the country, arithmetically it is even better for the hryvnia, “- said Yaresko.

However, in its opinion, it is obvious, in this situation there is a psychological effect.
“And so I ask everyone not to exaggerate the importance that the technical default can have for our people. In the banking system, he does not directly affect our citizens’ accounts in banks are not affected. This is not Greece, not the situation,” - said the Minister Finance.
As is known, 25 June, the Minister of Finance after a meeting of representatives of the American Chamber of Commerce and European Business Association said that in late July, Ukraine may declare a default.

Earlier Yaresko stated that the fate of the next tranche of the International Monetary Fund is dependent upon how the Verkhovna Rada will meet its obligations to the IMF.

16 July 2015

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