Thank You Western Taxpayer: Russia To Accelerate $3 Billion Of Ukraine Debt

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Thank You Western Taxpayer: Russia To Accelerate $3bn Of Ukraine Debt (ZeroHedge, Jan 10, 2015):

Just 13 short months ago – two months before then President Yanukovich was ousted – Russia lent Ukraine $3 billion (by buying their Eurobonds). As Reuters reports, the terms of that loan included a condition that Ukraine’s total state debt should not exceed 60% of its GDP. As of last month, based on Moody’s estimates, Ukraine has violated that condition with a debt-to-GDP of 72% (and will likely rise to 85% of GDP in 2015).. and so, according to Russian finance minister Anton Siluanov, “Russia has the right to demand early return of this loan.” With European aid ‘contingent on major reforms’ and possibly taking up to 1 year, this leaves the good old IMF (i.e. the US and European taxpayer) to bridge Ukraine’s ‘gap’ and ironically bailout Russia.

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