Technical default will not hit Ukrainians in the pocket - the Minister

29 June 2015 12:37  81102303 0103325
Technical default will not hit Ukrainians in the pocket - the Minister

Possible technical default will not affect the Ukrainian banking system and ordinary Ukrainians.

The Minister of Finance of Ukraine Natalia Jaresko said that in an interview with the "TSN.Week", the Ukrinform reported.

"Yes, the suspension of payments on foreign debts is a technical default, but you should not be afraid of the word. This does not affect our banking system. Because our banks do not hold this foreign debt on their balance sheets. That is, it does not affect their ability to pay, does not affect the deposits of our citizens, does not affect our currency," - Jaresko said.

The minister said some people trying to use the situation deliberately to intimidate the citizens of Ukraine.

"This is a technical default. People do not have to fear that all of our lending programs will be terminated. Just the opposite. The IMF gives public support, they understand that the funding of our country is a goal №1. Her we can achieve by either right restructuring or possible suspension of payments and then restructuring," - the head of the Ministry of Finance said. 

When asked whether this technical default would affect wallets of Ukrainians, Jaresko said: "No". 

As is known, on June 25, the Minister of Finance, after the ministerial meeting with the American Chamber of Commerce and the European Business Association, said that in late July Ukraine may declare a default

Earlier, the Bloomberg, referring to the conclusion of the investment company Goldman Sachs, reported that Ukraine would not be able to make the next payment on the loan on July 24 and would be forced to default.

According to the edition, the lenders, after three months of negotiations, did not agree to the terms of Ukraine to restructure the debt.

Ukrainska Pravda

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