The decision of the Verkhovna Rada to grant the Cabinet the right to impose a moratorium on foreign debt payments shows the weakness and incompetence of the current government. MP Serhiy Lovochkin (OPPOSITION BLOC) said this on the sidelines of the Verkhovna Rada on Tuesday, May 19.

“This (parliament decision) demonstrates the weakness and incompetence of the government as they come to the Parliament and ask to solve problems that they should have resolved on their own,” the MP said. “If the government is not corrupt, if lenders trust them, then the lenders will make a concession without adopting any laws by the parliament, and without this pressure,” Serhiy Lovochkin noted.

According to him, the decision of the Verkhovna Rada to grant the Cabinet the right to impose a moratorium on foreign debt payments is the first step to default.

"I think it's a shame and the first step to default, a complete failure of their economic policy. The government has been in talks with the creditors for a few months already, but we have seen no results there. Creditors may have different reactions, they may succumb to this pressure or not,” the MP added.

“We support the need to restructure the foreign debt, because today the state treasury is empty, for reasons that include failed economic policies, and Ukraine needs the lenders to make concessions. But despite the economic difficulties, we must talk with the creditors in a civilized way, not with laws like that one,” Serhiy Lovochkin concluded.