Creditors agree to write off part of the debt to Ukraine

International creditors of Ukraine agreed to write off a small part of its debt, according to The Wall Street Journal. As the newspaper notes, in the negotiations between Kiev and investors who own its debt obligations, there has been a “warming”.

Two sources close to the negotiations told about debt relief. This information was also confirmed by a Reuters interviewee. We are talking about the debt of Kiev to the American fund Franklin Templeton, who had flatly refused to write off.

A Reuters source said that this week the organization proposed to the Ukrainian authorities to write off five percent of the debt. The agency saw in the Franklin Templeton proposal evidence of a change in the position of private lenders, to whom Kiev owes 8,9 billions of dollars.

At the end of June, Prime Minister of Ukraine Arseniy Yatsenyuk declared that the country was unable to service the debts it had accumulated over the past three years. However, a week earlier, Ukrainian Finance Minister Natalya Yaresko said that Ukraine would fulfill its obligations to creditors.