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Tigipko said there would be no default

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Ukraine's Vice Prime Minister Sergiy Tigipko denies the possibility of default in the country, he told the press Wednesday. 
Tigipko stressed that "there would be no default on the government bonds. Salaries, pensions will be paid in time, and the state will service all liabilities. There will be no default either on domestic or foreign debts". 
In early March, President Viktor Yanukovych's aide Iryna Akimova said Ukraine was close to a technical default. "Free money on the accounts of the Treasury now makes up only 0.1 of the commitments that we must pay. This means that the empty treasury can not normally service all the necessary counting obligations," she said. 

Written by: Publisher Wednesday, 31 March 2010 12:16 Last Updated on Wednesday, 31 March 2010 12:41