No threat of technical default in Ukraine

Ministry of Finance of Ukraine has carried out a $120 million interest payment that comes due today, July 24, a source in the government with the knowledge of the matter told UNIAN.

"The payment has been carried out" the source said when asked to comment on $120 million coupon payment on sovereign bonds maturing in July 2017.

In late June, Ukrainian Finance Minister Natalie Jaresko stated that if there were no progress in talks with the creditors, Ukraine would "theoretically" be in a position to declare a moratorium on public debt payments in late July, with such right being provided by a law, which had come in force on June 17, and the Cabinet had the right to impose a moratorium on foreign debt payments to private creditors until July 1, 2016.