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
US and Ukraine sign deal giving US access to country’s valuable mineral wealth

US and Ukraine sign deal giving US access to country’s valuable mineral wealth

The United States and Ukraine have signed a minerals deal after a two-month delay, in what President Donald Trump's administration called a new form of US commitment to Kyiv after the end of military aid. Ukraine said it secured key interests after protracted negotiations, including full sovereignty over its own rare earths, which are vital for new technologies and largely untapped. Trump had initially demanded rights to Ukraine's mineral wealth as compensation for US weapons sent under former president Joe Biden after Russia invaded just over three years ago.

Popular

Editor's choice
News
US and Ukraine sign deal giving US access to country’s valuable mineral wealth

US and Ukraine sign deal giving US access to country’s valuable mineral wealth

The United States and Ukraine have signed a minerals deal after a two-month delay, in what President Donald Trump's administration called a new form of US commitment to Kyiv after the end of military aid. Ukraine said it secured key interests after protracted negotiations, including full sovereignty over its own rare earths, which are vital for new technologies and largely untapped. Trump had initially demanded rights to Ukraine's mineral wealth as compensation for US weapons sent under former president Joe Biden after Russia invaded just over three years ago.