Ukraine's government starts talks to restructure state debt: PM.

The talks are under way with the country's key donors, including the International Monetary Fund, the European Union, the European Investment Bank, and the European Bank for Reconstruction and Development.

PM Shmyhal says his Cabinet is competing for a low-priced resource / Photo from UNIAN

PM Shmyhal says his Cabinet is competing for a low-priced resource / Photo from UNIAN

Ukraine's Cabinet of Ministers has started talks with international creditors about the restructuring of the country's state debt.

"We should restructure it, and we've started talks with our international partners. But competition for money is very huge today. All countries are now trying to either borrow money or secure a bailout. And we are currently doing what all other developed countries are doing – today we are competing for a low-priced financial resource for our budget," he said on TV on Monday.

Read alsoLeading think tanks call on Ukrainian authorities to prevent default

The talks are under way with the country's key donors, including the International Monetary Fund, the European Union, the European Investment Bank, and the European Bank for Reconstruction and Development, he said.

As UNIAN reported earlier, the national budget for 2020 foresees UAH 423 billion, or over US$15 billion, to repay state debt.

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