Ukraine seeks debt deal within weeks as IMF deadline looms
By Bloomberg
Ukraine hopes to reach a debt agreement with creditors in “a couple of weeks” to help obtain the next chunk of aid from the International Monetary Fund, Finance Minister Natalie Jaresko said.
The restructuring will require a maturity extension, and a cut to the principal and coupons of about 23 bonds and loans, Jaresko said at a U.S.-Ukraine Business Council round table in Kiev on Thursday. Ukraine last month rejected a proposal from a group of five creditors led by Franklin Templeton that involved only a maturity extension, saying it didn’t go far enough to meet the country’s targets.
The IMF has asked Ukraine to conclude its debt operation by the time of its first review of a $17.5 billion rescue package for the country on June 15. The country needs aid after a yearlong conflict in the east drained reserves and pushed the country into recession. June is a “very critical month for Ukraine,” Jaresko said on Thursday.
The government’s $1.3 billion of notes due in April 2023 climbed 0.5 cent to 47.641 cents on the dollar by 12:02 p.m. in Kiev, the highest level in more than a week.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!