California Quest Falls Short as Ukraine Debt Talks Drag On - Bloomberg Business:
"After a 6,000-mile trip to the doorstep of her largest creditor and two days of talks, Ukrainian Finance Minister Natalie Jaresko is heading home without a deal as time runs out to avert a default.
The government and creditors led by Franklin Templeton were said to have agreed to continue negotiations remotely and issued a joint statement on Friday to show there’s no irreversible breakdown. But Ukraine is short on time to restructure $19 billion of debt after five months of sometimes acrimonious talks. Its economy is languishing amid signs of a pickup in separatist unrest in the country’s easternmost regions.
The two-sentence statement left little scope to “read between the lines” on the state of progress, Nomura Holdings Inc. strategist Tim Ash said by e-mail. Ukraine, which needs to execute an agreement before a $500 million note falls due on Sept. 23, said Aug. 7 that this week marked the “final opportunity” for an accord."
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