Creditors of Ukraine have agreed to freeze Ukraine's debts in the amount of 20 billion dollars.
Foreign creditors supported the request of Ukraine to freeze payments on international bonds worth nearly $20 billion for two years, Reuters reports.
This war-induced move will allow Ukraine to avoid default.
The decision was made because , that after six months of full-scale war, there are no signs of a ceasefire in the near future, and therefore the consequences for the financial system of Ukraine could be literally devastating.
Therefore, the holders of Eurobonds agreed to postpone state payments of interest and debt for two years for 13 Ukrainian sovereign bonds maturing between 2022 and 2033.
Ukraine will thus save about $5 billion.
Read also: Fitch has lowered Ukraine's rating to “high risk of default”
In addition, creditors of two state-owned companies — “Ukravtodor” and “Ukrenerg o” – also agreed to postpone payments on the debt for a period of two years. The company announced this on the website of the London Stock Exchange.
Ukrenergo is talking about so-called “green bonds” in the amount of $825 million at 6.875% and maturity until 2026. As for Ukravtodore, we are talking about an issue in the amount of $700 million at 6.25% with maturity until 2028.
On August 9, Ukraine received a postponement of payments under GDP warrants.< /p> Related video
At the same time, the repeated request of “Naftogaz of Ukraine” to postpone payments on the company's Eurobonds was rejected by the owners of the securities. Since, as before, they do not see this need
