Franklin Templeton: Such an approach will delay Ukraine entering capital markets, increase the cost of borrowing and the country dependence on official financing, the Committee said in a letter, TASS reported on Wednesday, according to Russia Today. The creditors’ committee that is engaged in talks with Ukraine includes T. Rowe Price, TCW Group, BTG Pactual and Franklin Templeton investment funds, which own $ 8.9 billion of Ukrainian debt, according to The Wall Street Journal. Ukraine understands the criteria for debt restructuring proposed by the IMF to be writing off the debt, introducing lower interest payments and prolongation of fees. The creditors offer not to pay the principal sum until 2019, instead of writing off the debts. However, Kiev has not yet received a reply from the Committee of creditors on its debt restructuring proposal. At the same time, they showed readiness to participate in trilateral talks in Washington with the participation of the Ukrainian Ministry of Finance and the IMF. Such a meeting can take place as early as June 30 or July 1, said Ukraine Finance Minister Natalia Jaresko on Monday.
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Tagged under Franklin Templeton, debt restructuring topics.