Thus, creditors agreed to defer external debt until the end of 2023 with the possibility of extension for another year.
Holders of approximately 93% of the total outstanding notional amount of government derivatives voted in favor of deferring debt payments, while holders of approximately 91% supported the decision to grant a delay.
“Thanks to the solidarity with Ukraine that commercial investors have shown along with the official sector, we will be able to meet the needs of the state budget of a country that is at war and keep our public finances stable,” Finance Minister Serhiy Marchenko explained.
What does it give Ukraine
As Prime Minister Denys Shmygal stated, as a result of this decision Ukraine will save almost $6 billion on payments. These funds will help maintain macro-financial stability, strengthen the resilience of the economy and increase the strength of the army.
And the decision on the debts of Ukrenergo and Ukravtodor will allow Ukraine to better prepare for the most difficult heating season in history and more effectively restore the infrastructure destroyed by the Russian occupiers.