The Ukrainian finance ministry has confirmed that it plans to enter negotiations to restructure about $700m (€735m) of debt it owes to the Paris Club of sovereign creditors.

In January 2000 the Ukrainian government stopped all payments on its foreign debts including Eurobonds and Paris Club loans. It then successfully negotiated a debt restructuring on $2.7bn of international bonds, but Paris Club rules prevented the government from opening talks about its official debts before it had a funding agreement with the International Monetary Fund (IMF).