Ukrainian delegates, IMF staff, and representatives of foreign creditors led by the Franklin Templeton group are to meet in Washington today. As it mulls its economic options, Kiev has clearly been listening to Bob Dylan, who wrote that “When you ain’t got nothing, you got nothing to lose.”Ukraine will be arguing that it just doesn’t have the cash to pay up, and its creditors will have to accept a 40 percent writedown on $23 billion in foreign-owned bonds. The Ukrainian envoy said he hopes this will be the start of serious talks about debt restructuring. From Reuters:
In an interview with …read more
Source: The American Interest
