Ukraine, France sign agreement on official debt service suspension

Ukraine and France have signed an Agreement on public debt repayment suspension, which will reduce the debt burden on Ukraine’s state budget and direct funds to finance priority needs.

Ukrinform reports this with reference to the Finance Ministry’s press service.

At a meeting with Ambassador Extraordinary and Plenipotentiary of the French Republic to Ukraine Etienne de Poncins, Finance Minister Sergii Marchenko signed the Agreement on the official debt service suspension.

“I am grateful to the French Government for supporting the financial system of Ukraine. Suspending payments on the official debt will reduce the debt burden on the State Budget of Ukraine and direct funds to finance priority needs and support the war-affected economy,” said Marchenko.

As reported, in September 2022, Finance Minister Sergii Marchenko signed a Memorandum of Understanding on official debt service suspension with a group of official creditors of Ukraine from G7 countries and the Paris Club aimed at mitigating the economic consequences of Russia's war of aggression against Ukraine. The memorandum was signed by representatives of the governments of Canada, France, Germany, Japan, Great Britain and the United States of America.

Photo: mof.gov.ua