• 25/02/2024 12:34

Ukraine has reached an important agreement with the G7 countries on paying off debts

 Украина достигла важной договоренности со странами Большой семерки по уплате долгов

Under the new agreement, the payment of Ukraine’s debts has been extended until the end of March 2027.

On Thursday, December 21, the Minister of Finance of Ukraine Sergei Marchenko signed changes to the Memorandum of Understanding on the suspension of payments on official debt with a group of official creditors of Ukraine from the G7 countries and the Paris Club.

This was reported by the press service of the Ministry of Finance.

Under the new agreement, the repayment of Ukraine's debts is extended until the end of March 2027, which corresponds to the end of the current IMF EFF program. This will reduce the burden on Ukraine’s budget during the war.

The signatories were representatives of the governments of Canada, France, Germany, Japan, Great Britain and the United States of America.

“I am grateful to the partners from the G7 countries for understanding the needs of Ukraine in conditions of war. Reaching today's agreement on debt renegotiation allows us to reduce the burden on the budget until the end of the IMF program and save foreign exchange liquidity to support social spending. This voluntary suspension of debt payments is part of a $122 billion package of international support provided by Ukraine’s partners,” said Sergei Marchenko.

The Minister of Finance also noted the importance of preserving financial resources, in particular, through the provision by external private creditors of Ukraine of the most acceptable debt regime until the expiration of the suspension of debt service provided by them in August 2022.

Let us recall that earlier the Minister of Finance of Ukraine Sergei Marchenko said that in January-February 2024 in Ukraine there will be risks of financing state budget expenses, since assistance from Western partners is insufficient.

tsn.ua

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