Ukraine asks international lenders to agree delay on its debt payments

The Ukrainian government asked for a two-year deferment on repayments and interest payments on international loans that the country has previously taken. The proposed adjustments would allow Ukraine to save 3 billion dollars over two years.

In September, a repayment and interest payment of 1.4 billion euros is due. However, it is questionable whether Ukraine can pay that amount. The country has been hard hit economically by the Russian invasion. In addition to the high costs of the war, the economy has been crippled, and the state treasury is at risk of becoming empty.

The Ukrainian Cabinet's website states that the government hopes to reach an agreement with international creditors by 15 August. Should the negotiations not lead to an agreement, the government promises to meet its payment obligations.
 

source: commonspace.eu with agencies

Related articles

Editor's choice
News
Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged

Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged

Borrell underlined that the European Union will make every effort to support the peace process and to remain a committed partner to the Afghan people. "Of course, we will have to take into account the evolving situation, but disengagement is not an option.  We are clear on that: there is no alternative to a negotiated political settlement, through inclusive peace talks.
Editor's choice
News
A new era of peace in the Eastern Mediterranean

A new era of peace in the Eastern Mediterranean

A ground breaking meeting between the President of Turkiye, Recip Tayip Erdogan, and Greek Prime minister Kyriakos Mitsotakis, on Monday (13 May) is being hailed as the dawn of a new era of peace in the Eastern Mediterranean. Mitsotakis was in Ankara as the guest of the Turkish leader. There are no unsolvable problems between Athens and Ankara, President Recep Tayyip Erdoğan said, as he and Greek Prime Minister Kyriakos Mitsotakis praised the state of relations between the two neighbors while pledging to further enhance bilateral ties. "We had a constructive and positive meeting and discussed problems in Türkiye-Greece relations; We will solve problems through dialogue," Erdoğan said at a joint news conference with Mitsotakis. Erdoğan said that Ankara and Athens are committed to resolving issues via "cordial dialogue, good neighborly ties, and international law" as outlined in last year's Athens Declaration on Friendly Relations and Good-Neighborliness. Improvement of bilateral relations with Türkiye is yielding concrete and positive results, Greek Prime Minister Kyriakos Mitsotakis said "I can only begin by thanking you for the warm hospitality today in Ankara, it was a fourth meeting in the last 10 months, which I believe proves that the two neighbors can now establish this approach of mutual understanding, no longer as some exception, but as a productive normality that is not negated by the known differences in our positions," Mitsotakis said. He said bilateral relations have been progressing, as agreed by the parties, on three levels: political dialogue, positive agenda and confidence-building measures. "I believe that it is a positive development in a difficult time for international peace, but also for the broader stability in our region," the Greek leader said.

Popular

Editor's choice
News
A new era of peace in the Eastern Mediterranean

A new era of peace in the Eastern Mediterranean

A ground breaking meeting between the President of Turkiye, Recip Tayip Erdogan, and Greek Prime minister Kyriakos Mitsotakis, on Monday (13 May) is being hailed as the dawn of a new era of peace in the Eastern Mediterranean. Mitsotakis was in Ankara as the guest of the Turkish leader. There are no unsolvable problems between Athens and Ankara, President Recep Tayyip Erdoğan said, as he and Greek Prime Minister Kyriakos Mitsotakis praised the state of relations between the two neighbors while pledging to further enhance bilateral ties. "We had a constructive and positive meeting and discussed problems in Türkiye-Greece relations; We will solve problems through dialogue," Erdoğan said at a joint news conference with Mitsotakis. Erdoğan said that Ankara and Athens are committed to resolving issues via "cordial dialogue, good neighborly ties, and international law" as outlined in last year's Athens Declaration on Friendly Relations and Good-Neighborliness. Improvement of bilateral relations with Türkiye is yielding concrete and positive results, Greek Prime Minister Kyriakos Mitsotakis said "I can only begin by thanking you for the warm hospitality today in Ankara, it was a fourth meeting in the last 10 months, which I believe proves that the two neighbors can now establish this approach of mutual understanding, no longer as some exception, but as a productive normality that is not negated by the known differences in our positions," Mitsotakis said. He said bilateral relations have been progressing, as agreed by the parties, on three levels: political dialogue, positive agenda and confidence-building measures. "I believe that it is a positive development in a difficult time for international peace, but also for the broader stability in our region," the Greek leader said.