0 $
2,500 $
5,000 $
2,180 $
10 DAYS LEFT UNTIL THE END OF NOVEMBER

Bloomberg Foretold Yaresko Failure of Negotiations

Support SouthFront

Bloomberg Foretold Yaresko Failure of Negotiations

A diallogue in the Ukrainian Parliament

Ukrainian economy is falling and nobody wants to help.

This article originally appeared at cont.ws, translated from Russian by Olga Seletskaia

She flies away, but she promises to return: Finance Minister Natalia Yaresko is going to the United States to negotiate the debt restructuring with creditors. The date of August 12 has become the new magic number, when, by the assurance of the Ukrainian side, it should happen. Recently in the circles close to the Finance Ministry, there were rumors that the creditors agreed to a “draw” – not to write off 40% as Ukraine asks, not 5 % as the creditors want, but averaged at 20 % . But yesterday’s article in Bloomberg denies these rumors. According to it, the negotiations will be delayed almost until December …

Question of the day: where is Yaresko flying – to San Francisco, or to San Mateo? Opinions dispersed. On the website of the Ministry of Finance it says that she is flying to San Francisco. Natalie Ann confirms the same route. In her Facebook page, she wrote, “This week I am paying a visit to San Francisco, where I will meet with representatives of the creditors’ committee. It is expected to be the final round of negotiations. ”

However, the central headquarters of the Franklin Templeton Fund are located in the Californian city of San Mateo. The fact that the head of the Ukrainian Ministry of Finance is going to the San Mateo, is mentioned by Bloomberg. Somebody was clearly wrong. And where eventually Yaresko is going will become clear tomorrow.

The Ukrainian side finally realized – its plan of intimidation creditors with default, or moratorium on payment of foreign debts, or pig’s plague, or Russian aggression had no effect on creditors. Speaking current terminology, they were “sick on their head”. They even turned a deaf ear on the IMF’s cautions.

As a result, as stated by Ukrainian Ministry of Finance, it made another (one hundred and twenty-fifth Chinese – Author) proposal, now in a soft form. Presumably, before the predominant forms were hard and very tough. The insane house of negotiations.

However, the “soft form” did not bring much result . “Partner in crime», Franklin Templeton Fund, continued to stand its ground – no more than 5% of a write-off, – and it does not buy a promise that Ukraine would pay more, when the country’s GDP rises. Apparently, believing in miracles has never been its soft spot.

A sudden hope to the fans of these negotiations came from circulated media rumors that the joint efforts of the IMF, the US State Department , the US Treasury and the Ministry of Finance of Ukraine helped to convince the creditors to bring it to 20 % . It is like bargaining at some oriental open market: neither good for you, nor for me.

However, while the Yaresko’s buddies were about to uncork a prize-winner’s bottle of beer to celebrate the 20% deal, Bloomberg stunned them with its news: debt restructuring will not happen neither on August 12, nor on September 23. And they will be lucky if it happens before the Catholic Christmas Eve of December 23.

In an article dated August 10, it says that lenders are deliberately delaying negotiations because it is beneficial for them to get $500,000,000 in September. As the history with the payment of $ 120 million in July shows, the Ukrainian side first refuses, then it goes silent, but at the last moment it pays.

Therefore Bloomberg predicts an increased likelihood that “the growing differences between Ukraine and the creditors’ committee headed by FranklinTempleton will prevent conclusion of the agreement within next six weeks.” And negotiations held on the “creditors’ field” on August 12 will bring no result. As with previous negotiations, which lasted for months and also came to nothing.

Furthermore, Bloomberg makes a fantastic assumption that Ukraine will complete its debt restructuring not earlier than by December 23, when it is due to payments on Russia’s sovereign debt in the amount of $ 3 billion.

“The majority of respondents in a last week poll predicted that the moratorium will not be signed until September 23. There is a chance that Ukraine will not complete its debt restructuring even by December 23. ”

The agency also reminds that life goes on after the 2015 year ends, and so do mortgage payments. Therefore it is desirable to change the tone of communication with creditors to a ” gingerbread”-like tone and to spare a stick for inner political games. The main concern, advises Bloomberg, is not to completely scare away those who give you money.

“In 2017th Ukraine will have to not only pay back the previous debts, which already almost reached the volume of GDP, but also to repay those loans for which Yatsenyuk and Minister of Finance American Natalia Yaresko/Ann’s government are now fighting so hard” – American media write.

The funny thing is that it was a few years ago, when Bloomberg first reported that a large part of the sovereign debt of Ukraine had been bought up by an American investment fund Franklin Templton. And, not for itself, but for the benefit of the Rothschild family.

This news came after a French unit group Rothschild & Cie had expressed its willingness to become a mediator in the negotiations of the Ministry of Finance of Ukraine and creditors to restructure debt.

In addition to Rothschild, it turns out that Ukraine’s financial donors are: BTG Pactual Europe LLP, TCW Investment Management Co. and T. Rowe Price Associates Inc. Staffing is – James Kennedy, a lawyer Marc Stern and the mega-popular banker Andre Esteves Santos. Moreover, Franklin Templeton bought Ukraine’s bonds by $ 7.6 billion. T. Rowe Price Group and TCW Group and BTG Pactual overstocked for a modest sum – $ 1.3 billion. Total $ 8.9 billion has been obtained. Another part of the bonds, most likely, belongs to the largest corporation BlackRock Inc (rolling in trillions!) or its subsidiaries. At the same time, BlackRock Inc is like a “cousin» to Franklin Templeton through common assets and affiliated companies.

And all this planetary mafia does not want to forgive poor, torn by unfulfilled dreams country of Ukraine some billions! And as a black crow flies Bloomberg over the negotiators and croaks, “You will not succeed! The agreement will not be signed!” . And how can anyone work in these conditions?!

Support SouthFront

SouthFront

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x