Ukraine was unable to reach an agreement with Russia regarding the restructuring of the $3 billion debt, but is confident that the international community will not allow Russia to block the lifesaving IMF package Kyiv needs to avoid default. This was stated by a source close to the Ukrainian government.
Russia may block the $17.5 billion International Monetary Fund bailout plan for Ukraine if the Ukrainian authorities are unable to repay the multibillion-dollar debt.
'The world will not allow Russia, after everything that has happened, to block the IMF program for Ukraine. This will not happen' - the source said in the corridors of the annual meetings of the IMF and World Bank in Lima, Peru.
Moscow, meanwhile, has refused to make concessions regarding Ukraine's repayment of the $3 billion debt, which was issued during the presidency of Viktor Yanukovych before his resignation in February 2014 amid pro-European protests.
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Although Ukraine struck a deal in August with four major commercial bondholders to facilitate the repayment of $18 billion in external debt, Russia's intransigence threatens to derail this process.
If the deadlock is not resolved, Ukraine will face default due to payments to Russia in December.
The rescue funds are vital to keep Ukraine's economy afloat and mitigate the impact of the pro-Russian separatist war in the east.
Ukrainian Finance Minister Natalia Yaresko recently met with her Russian counterpart Anton Siluanov in Lima, but they could not resolve the standoff.
'The Russian side stated that they would be willing to consider options for this if (Western) sanctions imposed on Russia were eased', - the source said.