The Ukrainian government will prevent a
default of national joint stock company Naftogaz of Ukraine, Fuel and
Energy Minister Yuriy Prodan says.
"There will be no default; there will be restructuring," he emphasized. Earlier the government instructed the finance ministry to extend state guarantees of USD 2.005,7 billion for restructuring Naftogaz of Ukraine's external indebtedness. Beside that, the government ordered Naftogaz and the finance ministry to agree by October 20 the key terms for restructuring of the company's debts on foreign loans, including to investors on eurobonds issued to finance the company's credit of USD 500 million and falling due on September 30.
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