Companies@UA: База компаний Украины

Kyiv, July 30 (Interfax-Ukraine) – The International Monetary Fund will welcome the restructuring of national JSC Naftogaz Ukrainy's debt if it is properly designed to ensure the company's profitability and financial soundness and is conducted on voluntary basis, said IMF Mission Chief for Ukraine Ceyla Pazarbasioglu.

Pazarbasioglu said this during a conference call on Ukraine, when asked whether the IMF supports the restructuring of Naftogaz debt, specifically $500 billion eurobond coming in September.

She said that restructuring of Naftogaz debt was not necessarily a recommendation of the IMF.

"The recommendation was, since the start of the program, to look carefully at the debt obligations of the government and any state-guaranteed debt, and to make sure that there is good asset/liability management, which can include voluntary restructuring of its debt," the mission chief said.

The IMF mission chief said they would be in close contact with the Ukrainian authorities in case the proposal on the restructuring will appear. But, at this current time, they have not seen any details and there is nothing concrete, she added.

When asked, whether Ukraine is capable of paying for the gas supplies and whether it is possible to use the fund's money for this purpose, Pazarbasioglu said that the program of cooperation takes into account the gas bills that the authorities need to pay as they impact the country's foreign debt and the balance of payments.