Default: retrospective and current challenges

Once in a while talks about the possible default announcement by Ukraine become more active. The critical dependence of the state upon the foreign financing, as well as its being on the verge of default, and extremely complicated negotiations with the foreign borrowers always give reason for discussions on this issue. Another reason for them was the recent statement by the Minister of Finance of Ukraine Natalia Yaresko that default is “theoretically possible” at the end of July. As you know the term of payment of the next Eurobonds coupon at amount of 120 million US dollars expires on July 24.

Mykhailo DOVBENKO