Ukraine agreed with the creditors on the comprehensive restructuring of the external debt

Denуs Shmyhal. Photo from open dezhrels

Ukraine has reached an agreement with the Committee of Eurobond Owners regarding the restructuring of the external debt.

This was announced by Prime Minister Denys Shmyhal.

According to him, this will save $11.4 billion in debt service over the next three years. And by 2033, savings will amount to 22.75 billion dollars.

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«We are restoring debt sustainability. Today we reached an agreement in principle with the Committee of Eurobond Owners of Ukraine. This is an important stage in the debt restructuring process, which will save $11.4 billion in debt service over the next three years and $22.75 billion by 2033,» he explained.

They plan to use the prudent funds for defense, social protection and reconstruction.

It was previously reported that as of the beginning of July 2024, the total debt of Ukraine to the International Monetary Fund has increased to 13.85 billion dollars.

As a reminder, in August 2024, the grace period during which Ukraine did not pay its foreign debts ends. Before that, the creditors agreed to suspend these payments for two years.