UPDATE: Russia waits for new offer as IMF says Kiev’s debt sovereign

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WASHINGTON/MOSCOW/BEIJING, Dec 17 (PRIME) -- Russia is expecting proposals on restructuring of Ukraine’s U.S. $3 billion Eurobond debt after the International Monetary Fund (IMF) recognized the debt as sovereign, Finance Minister Anton Siluanov told reporters Thursday.

“We are waiting for proposals from Ukraine, bearing in mind the new IMF decision, we are ready to consider them,” Siluanov said.

The IMF made the decision on Wednesday. “The board of directors of the IMF has recognized Ukraine’s debt to Russia as an official, not a commercial one,” a fund official said then.

Russia bought $3 billion Ukraine’s 2-year Eurobonds in December 2013. Moscow did not accept restructuring conditions proposed by Ukraine to its commercial creditors. Kiev insisted that the terms of debt repayment to Russia will be the same as for commercial creditors.

Russian Deputy Finance Minister Sergei Storchak said that the ministry does not rule out that Kiev will choose to declare a debt repayment moratorium later this week.

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