KIEV, Aug. 7 – The Finance Ministry will seek to extend by at least 40% the payment timeframes on the government’s domestic forex debt liabilities by issuing new FX debt liabilities with a repayment period of at least one year, according to the updated memorandum between the Ukrainian government and the International Monetary Fund.

"To relieve pressures on reserves, the Ministry of Finance will seek to roll over the government’s domestic FX debt liabilities at least at the rate assumed under the program by offering a suitable interest rate and maturity terms," the memorandum said.

According to the technical memorandum, the rollover rate is defined at 40% in 2016.