Tag Archives: IMF

Russia takes Ukraine to court over $3 bln default

Wasting no time after the 10-day grace period expired on December 31, 2015, Russia’s Ministry of Finance announced that it had initiated proceedings against Ukraine for nonpayment of $3.075 billion that came due on December 20. In addition to simple nonpayment, the Russian side also has claims that Kyiv violated certain covenants and triggered at least one other event of default in the months and weeks leading up to the maturity date. Continue reading

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