Ukraine hopes to restore access to the international capital market as soon as possible, the Ministry of Finance said.
The suspension of debt payments until the end of 2024 allowed Ukraine to save about $6 billion in budget funds. This was announced on Friday, February 10, by the Ministry of Finance following a meeting between Finance Minister Sergei Marchenko and representatives of the American banking holding JP Morgan.
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He thanked the representatives of the holding for long-term cooperation during the war.
“JP Morgan provided support in negotiations with investors in Ukrainian assets to postpone payments on sovereign Eurobonds. The negotiations were held in record time. Thanks to the agreement reached with the creditors of Ukraine to suspend debt payments until the end of 2024, about $ 6 billion of saved budget funds “, said the message.
During the meeting, the parties discussed the attraction of foreign investment in the restoration of Ukraine. The Minister of Finance noted that Ukraine hopes to restore access to the international capital market as soon as possible.
“The restoration of the country cannot consist only of concessional financing from international partners. The cost of reconstruction will be hundreds of billions of dollars. The government of Ukraine is interested in creating a favorable environment for attracting private investment,” said Marchenko.
The ministry noted that with regard to priority areas for attracting private investment, attention is focused on energy, natural resources, IT and the agricultural sector. Marchenko noted that the government of Ukraine is working, in particular, with the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group, to start insuring war risks and obtaining investment guarantees.
Recall that in August 2022, Ukraine was granted a moratorium on external debt for $20 billion. Foreign creditors have frozen payments on international bonds for two years to prevent a default.
Japan has offered Ukraine a deferral of debt payments
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.