Direct talks between Ukraine and the creditors' committee, which were scheduled to take place this week, have been canceled.

As reported, Ukraine held the first direct talks with the creditors' committee in Washington on July 15. In a joint press release, the parties reported they had made progress on a number of substantive issues and agreed to focus on removing discrepancies in their positions.

Additional meetings between Ukraine and the creditors' committee were scheduled for this week. The main objective of the upcoming meetings was to finalize the terms of Ukraine's debt operation as soon as possible.