PM Shmyhal about Ukraine's external debt: Creditors agreed to suspend payments until 2024

Prime Minister Denys Shmyhal announced that Ukraine's international creditors agreed to suspend external debt payments until 2024, which would provide an opportunity to save nearly $6 billion.

In a post on his Telegram channel, Shmyhal wrote: "Creditors of Ukraine’s foreign debt agreed to postpone payments until 2024, with a possible extension for another year. Thank you for the step of solidarity. We are also grateful to the G7 countries for supporting this position”.

He noted that it will allow Ukraine to save almost $6 billion.

According to the prime minister, "these funds will help us maintain macro-financial stability, strengthen the stability of the Ukrainian economy and increase the strength of our army."

"Holders of state-owned Ukrenergo and Ukravtodor securities also agreed to the offer for postponement. This will allow Ukraine to better prepare for the most difficult heating season in history and more effectively restore the infrastructure destroyed by Russian terrorists," Shmyhal added.

As Ukrinform reported, earlier the Group of Creditors of Ukraine from the G7 countries and members of the Paris Club of creditors announced their readiness to suspend Ukraine’s debt service obligations until the end of 2023, with the possibility of extending this suspension for a year (until 2024).

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