Ukraine to save about $5.9B thanks to debt rescheduling – Finance Ministry
The relevant statement was made by the Ukrainian Finance Ministry, an Ukrinform correspondent reports.
In August 2022, investors supported Ukraine’s proposal to change the terms of issuance and placement of the state financial instruments. Three-week negotiations with holders of government external loan bonds and state derivatives ended with making amendments to the terms of issuance of any government external loan bonds and state derivatives of Ukraine, as well as Eurobonds secured by the state.
Ukraine’s international partners in the Group of Seven (G7) and the Paris Club (except Russia) praised the exemplary debt servicing of Ukraine and urged the holders of bonds and warrants to endorse Ukraine’s proposals.
“The rescheduling of debt service payments to bond holders will reduce pressure on Ukraine’s state budget amid the war. Between August 2022 and August 2024, about $5.9 billion will be saved for other important budget purposes,” the ministry noted.
A reminder that Ukraine’s foreign debt investors agreed to reschedule the country's debt service payments until 2024 with a possible extension for one more year.
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