Ukraine restructures public-sector debt, no default announced – Yatseniuk
Ukraine has managed to reach an agreement with the Ad Hoc Committee of Creditors on restructuring and partially writing off its debts, Ukrainian Prime Minister Arseniy Yatseniuk has said.
"The default that our enemies were waiting for will not take place," he said while opening an extraordinary cabinet meeting on Thursday.
"Thanks to the efforts of the finance minister and the Ukrainian government, we've managed to receive the following conditions: the first is that 20% of the country's debt is written off by our creditors," Yatseniuk said.
He added that this concerns the write-down of almost $4 billion.
Yatseniuk added that Ukraine will not pay the principal of the credits for four years.
Advertising
Advertising
MORE ABOUT
Ukraine should start negotiations on joining NATO at the Washington Summit - Alexander Vershbow
17:56, 23.10.2023
Shmyhal: Russia's default becoming matter of weeks, not months
17:35, 18.04.2022
Ukraine doesn't need default - Zelensky
15:02, 18.04.2020
Ukraine not considering default, waiting for help from IMF, including for fighting COVID-19 – Zelensky's spokeswoman
12:10, 28.03.2020
Zelensky: we will prepare new program with IMF in July, no default expected
10:44, 19.06.2019
LATEST
New EU sanctions will apply to supplies of manganese ore and aluminum oxide to Russia – Latvian authorities
21:07, 03.05.2024
NBU lifts restrictions on import of works, services; introduces other currency concessions
21:01, 03.05.2024
Ukrainian coal could be exported due to shutdown of Centerenergo in Russian heavy shelling – Minister of Energy
19:26, 03.05.2024
NBU requires Getin Holding to sell Idea Bank within six months
10:09, 03.05.2024
DIM company accredits houses under construction in eOselia program