Poroshenko Signs Moratorium on Foreign Debt Repayment (Ukraine)

Sputnik ^ | 5-28-2015 | Sputnik

[tcrlaf]

Ukrainian President Petro Poroshenko has signed a law allowing Ukraine to impose a moratorium on repayment of its foreign debt until at least July 2016, a press release on Poroshenko's official website said Thursday.

The Ukrainian parliament approved the bill, which could affect repayment of the country's $3-billion debt to Russia on May 19.

Russian President Vladimir Putin said earlier the bill de facto was an announcement of a default, casting a negative light on the professionalism of Ukraine's leadership.

Moreover, Russian Finance Minister Anton Siluanov said that Moscow would turn to an international court if the Ukrainian president signed a moratorium on the repayment of foreign debt.

[tcrlaf]

Just now beaking: Kiev's Foreign Debt Repayment Moratorium is a De Facto Announces Default – Putin

To be fair, Kiev isn't in default on it's debts, YET. The law allows Poroshenko to declare a "Moratorium" on foreign debt repayments at any time, though, without warning.

It's a way to default, without actually calling it a default. Kinda like calling a civil war an "Anti-Terrorist Operation", to keep the IMF money flowing, with the same effect.

[caww]

.....”It’s a way to default, without actually calling it a default...to keep the IMF money flowing”....

Who couldn’t see this coming?....and there will be more like it as Poroshenko pulls all the rabbits out of his hat. The show is just getting started.