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KIEV () -- Ukrainian leaders said the former Soviet republic would soon start servicing over $4 billion in foreign debt, mostly to Russia, after more than six months of delays.
"Our country has not made payments on foreign debt for more than half a year. Only today are we starting to create new structures to resolve this problem," Prime Minister Vitaly Masol said in a report to parliament Thursday.
Ukraine has amassed a debt of $4.3 billion since the Soviet Union broke up in 1991, Finance Minister Petro Hermanchuk told deputies. Parliament chairman Olexander Moroz said finance ministries of Russia and Ukraine were working out mechanisms for paying off the debt
Kiev to Service Debts
30 July 1994
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