Ukraine has taken one step back from looming default as an agreement was reached to start direct talks with Kyiv’s biggest private creditors. This is despite a setback with Russia, which has refused to discuss the restructuring of a loan issued in 2013 as a reward to then-president Viktor Yanukovych for rejecting an association and free trade accord with the European Union. However, as is often the case with Ukraine, internal problems may turn out to be more difficult to resolve than external ones. Ukraine’s parliament has passed a populist bill obliging banks to convert retail loans issued in dollars …read more
Source: The Jamestown Foundation