We sure could use some of the 286.1 million dollars the country of ukraine owes us <USA> right now
http://www.usemb.kiev.ua/press/02061...-club_eng.html
U.S. REDUCES UKRAINE?S FOREIGN DEBT REPAYMENTS BY RESCHEDULING $200 MILLION IN DEBT UNDER PARIS CLUB TERMS
The United States and Ukraine have signed a bilateral agreement to consolidate and reschedule $200 million of Ukraine?s sovereign debt to the United States under Paris Club terms, a step that will ease pressure on Ukraine?s budget and place the country on a firm financial footing with credit ratings agencies and international financial institutions.
The agreement was signed today in Kyiv by Ukraine?s Finance Minister Ihor Yushko and US Ambassador to Ukraine Carlos Pascual.
?The United States is very pleased that we can sign this agreement today, thereby fully implementing U.S. commitments under the Paris Club,? said Ambassador Pascual. ?An agreement with the Paris Club sends a strong signal to the world about Ukraine?s intentions to move forward with its economic development and its declared path of Euro-Atlantic integration.?
The total amount of Ukraine?s external debt to the United States is approximately $286.1 million. The bilateral agreement accounts for nearly 70 percent of the total amount.
Between 1994 and 1999 Ukraine accumulated $1.1 billion in foreign debt to five members of the Paris Club: France, Germany, Italy, Japan and the United States. Last July the19-member Paris Club and Ukraine agreed to restructure $580 million of that amount. This agreement will reduce Ukraine?s debt service payments to the Paris Club by $515 million ? from $800 million to $285 million.
The rescheduled amount is to be paid in 12 years, with three years grace. Ukraine is to make 18 equal and successive semi-annual payments to its creditors.
In addition to easing pressure on Ukraine?s budget, the restructuring will allow Ukraine to tap international capital for capital and infrastructure investments and establish stronger relationships with the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, and the Export-Import Bank of the United States.