The head of the International Monetary Fund (IMF) mission in Ukraine, Gavin Gray, announced that the moratorium on Ukraine's external debt repayment will be in effect until 2027, and the restructuring will be completed by mid-2024. This was reported by the IMF press service.
According to Gavin Gray, “an ambitious restructuring of external commercial debt should be undertaken in the first half of 2024 to help restore debt sustainability while creating the necessary fiscal space.”.
The IMF added that the official lender moratorium will last until the end of the IMF program, which is until 2027. The private lender moratorium is likely to end in August 2024.
In October, the IMF forecasted that Ukraine's total public debt would increase in 2021 to 88.1% of gross domestic product (GDP) and exceed 100% of GDP by 2025.
Ukraine was previously allowed to postpone debt payments until 2027 by a decision of the Creditors Group, which includes all G7 countries, which includes holding discussions with foreign bondholders on restructuring payments of 20 billion.
