Klitschko: We have voted for suspending payments of Kyiv foreign debt

08.10.2015 16:00

Kyiv City Council has passed the bill which suspends payments of the capital's external debt , the mayor of Kyiv Vitali Klitschko said in comments to journalists.

"The Council has just voted in favour of an important issue, which is suspension of payments of capital foreign debt. Foreign loans were kaken as far as 10 years ago. Credit period expires on November 6. Taking into account difficult economic situation and based solely on the interests of Kyiv and its residents, we have taken an appropriate decision. Preparation for winter and heating season are our prioritis today. We continue negotiations with foreign creditors, where we stand for the interests of Kyiv. We do our best to get fair and reasonable repayment conditions. After the talks we will announce our agreements," Vitali Klitschko said.

He reminded that repayment concerns old debts of UAH 12.5 billion, and the current authorities managed to cover UAH 1.2 billion of the debt. In addition, the city has paid debts of salaries in public sector and energy supplies.

The mayor also noted that internal audit department would find out what foreign loans had been taken for, and where the money had been spent. This information would be made public.

"We are negotiating about debt restructuring and I hope that in the nearest future we will be able to bring positive news to Kyiv residents," Vitali Klitschko said.

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