Yatsenyuk rejects Putin’s debt restructuring proposal

Ukraine Prime Minister Arseniy Yatsenyuk

Ukraine Prime Minister Arseniy Yatsenyuk

Ukrainian Prime Minister Arseniy Yatsenyuk has rejected Russia’s restructuring proposal for the repayment of Kiev’s eurobond debt, demanding that it extend a 20% reduction on the face value of the loan and a four-year average maturity extension like everyone else. He also threatened to refuse to repay debt altogether unless Moscow agreed.
His remarks came the day after Russian Prime Minister Dmitry Medvedev said Ukraine should “stop acting out” and pay up. In the wake of the bombings in Paris, Putin had appeared to try and ease tensions with the West at the G20 summit in Antalya by proposing that Ukraine could pay down its eurobond debt in three annual instalments starting next year.