Thursday, August 11, 2022
Ukraine received approval for a debt-payment freeze from the holders of its worldwide bonds, gaining aid for a funds devastated by Russia’s invasion. Buyers representing round 75% of $19.6B price of Ukraine’s overseas bonds agreed to defer coupon and principal funds till 2024, the Finance Ministry stated on Wednesday. The restructuring course of is backed by Ukraine’s key allies, together with the US and the IMF, because the nation wants money for the whole lot from paying pensions to defending in opposition to the a lot larger and richer aggressor. The newest transfer, together with different measures put ahead to collectors, may save the state $5.8B.