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Ukraine asks international lenders to agree delay on its debt payments

20 July 2022

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

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