Lavrov: Obama 'admin' admits lack of prospects of restoring Ukrainian solvency.

Lavrov: Obama 'admin' admits lack of prospects of restoring Ukrainian solvency.  (RBTH).

By having refused to guarantee Ukraine's debt as part of Russia's proposal to restructure it, the United States effectively admitted the absence of prospects of restoring its solvency, Russia's Foreign Minister Sergei Lavrov said in an interview with Interfax.

"We were ready to restructure Ukraine's $3 billion debt at much more advantageous terms than those asked of us by the IMF [International Monetary Fund]. But these terms, which extend the repayment not by one but three years and in equal installments, were certainly tied to these payments by Ukraine being guaranteed by the EU, the U.S. and the IMF or a first-class international bank. We were denied it. By officially rejecting the proposed scheme, the United States thereby subscribed to not seeing any prospects of Ukraine restoring its solvency," Lavrov said.


"This reform, which they are now trying to implement, designed to suit Ukraine only, could plant a time bomb under all other IMF programs," Lavrov said.

"Essentially, this reform boils down to the following: since Ukraine is politically important - and it is only important because it is opposed to Russia - the IMF is ready to do for Ukraine everything it has not done for anyone else, and the situation that should 100 percent mean a default will be seen as a situation enabling the IMF to finance Ukraine," the minister said.

The IMF Executive Board is meeting on Tuesday to consider changes to the IMF policy with respect to countries with a debt to official creditors.

The IMF's current lending policy rules out the possibility of providing financing for a member state which has a debt to an official creditor. Removing this restriction will enable the IMF to continue disbursements to Ukraine under the current extended-financing program, even if Kyiv defaults on its debt to Russia for the $3 billion Eurobonds issued in 2013. Hmmm.......NEXT... IMF about to create 'Greek situation in Ukraine'?

After Turkey , Qatar now Iran offers loan to Egypt.

After Turkey , Qatar now Iran offers loan to Egypt.(TI).President Mahmoud Ahmadinejad, on the first visit to Cairo by an Iranian leader in more than three decades, called for a strategic alliance with Egypt and said he had offered the cash-strapped Arab state a loan, but drew a cool response, Reuters reported.
Ahmadinejad said outside forces were trying to prevent a rapprochement between the Middle East's two most populous nations, at odds since Iran's 1979 Islamic revolution and Egypt's signing of a peace treaty with Israel in the same year.
"We must all understand that the only option is to set up this alliance because it is in the interests of the Egyptian and Iranian peoples and other nations of the region," the official MENA news agency quoted him in remarks to Egyptian journalists published on Wednesday.
The two countries have not restored diplomatic ties since Egypt overthrew its long term leader Hosni Mubarak in 2011, but its first Islamist president, Mohamed Mursi, gave Ahmadinejad a red-carpet welcome on Tuesday to a summit of Islamic nations.
"There are those striving to prevent these two great countries from coming together despite the fact that the region's problems require this meeting, especially the Palestinian question," Ahmadinejad said.
Egypt's foreign minister played down the significance of the visit, telling Reuters the Iranian leader, one of several heads of state to get the red-carpet treatment, was in Cairo chiefly for the Islamic summit beginning on Wednesday, "so it's just a normal procedure. That's all."
Egypt's leading Sunni Muslim scholar scolded Ahmadinejad on Tuesday when he visited the historic al-Azhar mosque and university over Tehran's attitude to its Gulf Arab neighbors and attempts to spread Shi'ite influence in Sunni countries.
In his meeting with Egyptian reporters, MENA said Ahmadinejad denied accusations Iran was interfering in Bahrain, where a Shi'ite majority lives under minority Sunni rule.
Al-Ahram daily quoted Ahmadinejad as saying in an interview that Iran had offered to lend money to Egypt despite being under international economic sanctions over its nuclear program.
"I have said previously that we can offer a big credit line to the Egyptian brothers, and many services," he said. He did not say if there had been any response.
The president said the Iranian economy had been affected by sanctions but it is a "great economy" that was witnessing "positive matters", saying exports were increasing gradually.
The United States and its Western allies have sought to choke off Iran's vital oil exports by embargoing imports from the Islamic republic and cutting its access to shipping, insurance and finance.
Egypt disclosed on Tuesday that its foreign reserves had fallen below the $15 billion level that covers three months' imports despite recent deposits by Qatar to support it. Hmmmm.......Muslim Brotherhood economics since it works so wel in Palestine.Read the full story here.