The Ukrainian Finance Ministry will issue value-added tax bonds in the near future to compensate the nation's debts to exporters, the government's press service said Wednesday.
"Each entrepreneur will have the opportunity to transparently receive funds in the Ukrainian banking system backed by these assets," Prime Minister Arseny Yatsenyuk was quoted by the press service as saying during a cabinet meeting.
The bonds, with nominal value of 1,000 hryvnya (around 85 U.S. dollars) each, will mature in five years and will carry an interest rate similar to the official key interest rate, which now stands at 9.5 percent.
Ukraine now owes 1.45 billion dollars to its exporters for value-added taxes refunds that were not repaid for few years.
Issuing value-added tax bonds was one of the International Monetary Fund's requirements to grant an aid package totaling around 17 billion U.S. dollars for Kiev.