Ukraine tells creditors next week is last chance for debt deal

Efforts from Ukraine's government to reach an agreement with its creditors aiming at restructuring $23 billion of its external public debt were reported to have produced no results by August 2015.

The finance ministry sent a fresh offer to a creditor group on 4 August 2015 and scheduled a 'decisive' meeting for two days later, but reports suggested that creditors saw the debt proposal as unacceptable and offered a meeting later on.

An international bailout programme to shore up its finances depends on Ukraine making $15 billion in savings via debt restructuring. The agreement should be reacher before it is due to make principal and interest payments of more than $500 million on a Eurobond maturing on 23 September 2015.

ESO: Background information: IMF lowers Ukraine's 2015 growth projection to minus nine percent http://www.europeansources.info/record/imf-lowers-ukraines-2015-growth-projection-to-minus-nine-percent/

Sputnik International, 06.08..15: Ukraine Needs to Restructure Debt to Avoid Economic Collapse - US Treasury http://sputniknews.com/politics/20150806/1025443657.html

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