Eurobond holders agreed to freeze Ukraine’s payments until 2024, knowing that these payments represent 75% of the external debt. This is reported by the Ministry of Finance of Ukraine on its website.
“We are grateful to the investors for accepting our proposal, thanks to the solidarity with Ukraine shown by the private investor community along with the official public sector, we will be able to meet the needs of the state budget of the warring country and maintain the stability of our finances,” Finance Minister Serhiy Marchenko said in a press release to the public “.
As Bloomberg reported, Ukraine’s external debt is $19.6 billion, so the decision to freeze payments will allow Kyiv to save $5.8 billion, which should have been paid in debt service until 2024. According to Oleg Ustenko, economic adviser to Volodymyr Zelensky, the Ukrainian budget deficit is about $5 billion a month.
Source: RIA Novosti