Negotiations between Ukraine and private creditors on debt restructuring of more than $20 billion have not yet yielded results.
The Verkhovna Rada adopted a bill that allows the government to suspend payments on external public debt until October 1, 2024. People’s Deputy Yaroslav Zheleznyak announced this on Telegram on Thursday, July 18.
“The Rada adopted bill No. 111396 on debt restructuring in two readings at once,” he wrote and added that 231 deputies voted in favor.
The government is also allowed to take public debt from Ukravtodor ($700 million + interest). The Reconstruction Agency (formerly Ukravtodor) will not be able to carry out restructuring on its own, the people’s representative said.
We remind you that Ukraine’s negotiations with private creditors on debt restructuring of more than $20 billion have not yet yielded results. In the absence of a compromise, Ukraine will have to default in August.
Demand for debt restructuring intensified after international rating agency S&P Global Ratings downgraded Ukraine’s credit rating.
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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.