After the stabilization of the economic situation in Ukraine, the creditor states will introduce additional measures to ease the credit burden in Ukraine.
Ukraine’s group of creditors, which includes all the G7 countries, has given Ukraine a deferral of loan payments until 2027, when the current IMF program ends. This was reported by Ukrinform in connection with the Canadian Ministry of Finance.
It was noted that representatives of all member states of the Group met on March 23 and agreed on a common position on the Ukrainian public debt.
“The provision of financial guarantees by the Group of Creditors of Ukraine provides for the extension of the debt payment freeze from August 1, 2022 during the period of the IMF program (2023-2027), in accordance with the national law of the creditor state,” the message said.
It was noted that after the stabilization of the economic situation in Ukraine or before the end of the IMF program, creditor states will introduce additional measures to ease the credit burden on Ukraine.
“A group of Ukrainian creditors will offer a debt solution that will meet the parameters of the IMF program, provided that external private creditors provide less favorable conditions,” said of the Canadian Ministry of Finance.
Members of the Group of Creditors also called on other bilateral creditors “to conclude an equally favorable agreement with the government of Ukraine on debt terms.”
Let’s add that the Group of Creditors of Ukraine includes Canada, France, Germany, Japan, Great Britain and the USA. Australia, Austria, Belgium, Brazil, Denmark, Finland, Ireland, Israel, Italy, Korea, Netherlands, Norway, Spain, Sweden and Switzerland have supervisory status.
It will be recalled that in August last year, the IMF provided Ukraine with emergency financing in the amount of $2.7 billion. The fund also said they consider a full loan for Ukraine possible, although it is not usually granted to warring countries.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.