The head of the mission of the International Monetary Fund (IMF) in Ukraine, Gavin Gray, announced that the moratorium on the payment of Ukraine's foreign debt will be in effect until 2027, and the restructuring will be completed by mid-2024. This was reported by the press service of the IMF.
According to Gavin Gray, "an ambitious external commercial debt restructuring 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 moratorium on creditors will last until the end of the program with the IMF, which is until 2027. The moratorium on private lenders is likely to end in August 2024.
In October, the IMF predicted the growth of the total public debt of Ukraine in 2021 to 88.1% of the gross domestic product (GDP) and exceeding the level of 100% of GDP by 2025.
Previously, Ukraine was allowed to postpone debt payments until 2027 by the decision of the Group of Creditors, which includes all G7 states, which includes holding discussions with foreign bondholders on the restructuring of payments for 20 billion.
