Ukraine suspends sovereign debt servicing as part of debt restructuring
Ukraine's Cabinet of Ministers has announced that it is about to launch procedures to restructure and partially write off of sovereign debt, which will involve the suspension of transfers as of September 23 to repay and service sovereign and state-guaranteed debt, which includes sovereign eurobonds issued in 2005-2013 and Fininpro's eurobonds.
"The Finance Ministry and the Infrastructure Ministry shall temporarily halt payments on the debts in accordance with the list enclosed for a period established by Article 1 of the Ukrainian law on transactions with sovereign, state-guaranteed debt and local debt," according to Cabinet directive No. 978-r of September 22, published on the governmental website.
The law allows the government to suspend each of the debt payments "until conclusion of such a transaction (transactions) and changes in the terms of the relevant loan with respect to creditors."
The document says that the government supported the Finance Ministry's proposal that such transactions should be finalized before December 1, 2015.
Advertising
Advertising
MORE ABOUT
Cabinet appoints Konovalova as dpty minister of education, Kis as Head of National Research Fund
20:49, 25.02.2025
Cabinet approves Strategy for Protection of Documentary Heritage until 2027
11:06, 25.12.2024
Enterprises with damaged infrastructure in areas of active hostilities to have right to debt restructuring – Shmyhal
19:46, 11.12.2024
Cabinet postpones conclusion of defense contracts under non-competitive procedure according to NATO standards after war
16:49, 30.11.2024
Arakhamia: Over 50% of Cabinet set for changes: dismissals on Wed, appointments on Thurs in Rada
19:18, 03.09.2024
LATEST
If Russia doesn't agree to peace deal, it will be very disappointing for the world – Trump
21:05, 13.03.2025
Decision on composition of team for further talks to be made by President – Zhovkva
20:51, 13.03.2025
Ukraine informs key European partners about talk results in Jeddah – Zhovkva
20:50, 13.03.2025
Ukraine likely withdrawing from Russia's Kursk region under US pressure – media
20:49, 13.03.2025
Zelenskyy signs law on providing rehabilitation services to military personnel in special educational institutions