Ukraine is negotiating a $20 billion debt restructuring

The Ukrainian government is actively negotiating with international bondholders to restructure its $20 billion debt and is considering a partial write-off of this debt. The Minister of Finance of Ukraine, Serhiy Marchenko, confirmed this information.

The government of Ukraine decided to freeze payments on international bonds for two years already in February 2022, in response to the large-scale invasion of Russia. Now, approaching the end of this period in August, Ukraine is trying to maintain access to international financial markets and is monitoring the conclusion of a new agreement.

Serhiy Marchenko noted that negotiations are currently underway with creditors, including options for partial debt write-off. Private bondholders engage in limited negotiations with the government, which usually indicates significant progress.

Recalling past events, it is worth noting that in July 2022, Ukraine submitted a request for a two-year postponement of the payment of the external debt, and already in the fall, the creditor countries agreed to postpone payments until the end of 2023.

Ukraine is preparing a $20 billion debt restructuring plan to send to private bondholders.

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