The head of the Kyiv Security Forum, former prime minister of Ukraine (2014-2016) Arseniy Yatsenyuk called on private creditors to agree with the proposal of the Cabinet of Ministers to restructure Ukraine’s debt.

"An agreement with holders of international bonds allowing Ukraine to suspend payments expires in August. However, no agreement on debt restructuring has been reached yet. Creditors must find a compromise given Ukraine's dire situation amid the devastation caused by Russia’s war," he said in his article for Kyiv Independent.

"In August 2015, my government (for which I served as prime minister) reached an agreement with the Creditor Committee to restructure part of the $18 billion international debt (one-fifth of the total debt)... Restructuring Ukraine’s external debt is part of the financial toolkit needed to prevail in this war," he said.

"Some suggest rolling over bond repayments mentioned in this article for another two years. I categorically oppose this! There is no more space for interim decisions or further roll-overs. External public debt – bonds and GDP warrants – must be restructured in the form of a write-off. Ukraine should join NATO and the European Union. Ukraine must prevail in this war!" he added.

"As a Ukrainian bondholder of $500,000, I call on all private bondholders to accept the government's proposal to restructure Ukraine's international debt. As a last resort, the compromise limit is a 50% debt write-off. I am ready to assume losses in a heartbeat. Writing off Ukrainian debt means assisting Ukraine in achieving victory, which is also a victory for democracy and a just world order," Yatsenyuk emphasized.