President of Ukraine Petro Poroshenko has said that Ukraine’s government has prevented default and has provided micro-financial stabilization in the country.
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Poroshenko comments at a government meeting come amid signs of discord in the governing coalition over his peace efforts and disenchantment over falling living standards and economic hardship.
$3 billion bond due in December by threatening to challenge an worldwide Monetary Fund bailout loan if payment isn’t made.
But turning to a tenuous ceasefire in the separatist-minded east since February and a fall-off in shelling and shooting in the past few days, he said: “I am sure that a full-scale renewal of offensive activity by the Russian Federation represents the main threat”.
Earlier last week, Ukraine’s National Security Council approved a new military doctrine that declares Russian Federation a military opponent and called for Ukraine to pursue North Atlantic Treaty Organisation membership. “This is the first week that the Minsk agreements are being implemented”.
Heavily-indebted Ukraine agreed late last month with its largest group of creditors to a deal that includes a write-down of 20 percent of the principal owed, a small increase in the coupon on most of the bonds and a four-year extension of maturity for each bond.
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On Friday, a Ukrainian soldier was killed in the blast of an “unknown explosive device” in the Lugansk area, one of the two eastern regions controlled by pro-Russian rebels.
