The Ministry of Finance
regrets that for the last three months the members of the ad hoc Creditors
Committee have consistently refused to enter direct negotiations with Ukraine
under standard confidentiality terms.
Concerns about the impact of receiving confidential
information on their trading activities has been used as an excuse not to meet
with the Ukrainian representatives, including Minister Jaresko, to negotiate
the terms of a debt operation that meets the three targets in Ukraine’s IMF
program.
In addition, and despite
previous statements to the contrary, the proposal by the ad hoc Creditors
Committee does not meet the three criteria agreed with the IMF. That proposal
includes utilizing $8 billion from the international reserves of the
National Bank of Ukraine for no consideration. This measure has been
strongly rejected by the IMF in their statement of 12 June 2015.
The Minister has repeatedly
stated her desire to meet with the Committee and enter into direct
negotiations. The Minister once again calls upon the Committee to seek a
collaborative solution with the Ukrainian authorities as soon as
possible. If the Committee enters into confidentiality agreements, the
Minister remains ready to meet with the Committee without preconditions. The
Minister looks forward to bridging the current differences and at last starting
direct negotiations.
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