Friday, August 7, 2015

Ministry of Finance agrees to meet with ad hoc creditors committee on Wednesday in San Francisco

The Ministry of Finance of Ukraine, in a spirit of collaboration and good faith, has agreed to meet with the ad hoc creditors’ committee at their request on Wednesday next in San Francisco, United States.

However, given the legal and timing constraints of reaching and implementing any settlement, failure to reach an agreement at the sovereign level next week would force Ukraine to implement alternative options for financing its IMF-supported program.

Due to these constraints, this meeting is the final opportunity to reach a full agreement in advance of the September and October Eurobond amortizations and next IMF review now planned for September.



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