World Economy

Ukraine Debt Restructured

Ukraine Debt RestructuredUkraine Debt Restructured

Russian President Vladimir Putin has offered Kiev a three-year installment plan to pay back its €3 billion ($3.2 billion) debt to Moscow, RT reported. The Russian media link the offer to a possible deal with the IMF to give BRICS emerging economies more voting power. According to Putin, not only has Russia agreed to restructure Ukraine’s debt, but also proposed better terms than the IMF asked. “We are ready not to receive payment this year, and instead be paid in €1 billion installments in 2016, 2017 and 2018,” Putin said at the G20 summit in Antalya, Turkey.