Ukraine extends debt restructuring to G7 countries and the Paris Club until 2027
Kyiv • UNN
Ukraine has extended its debt restructuring agreement with the G7 countries and the Paris Club until 2027, reducing the burden on the budget and preserving liquidity for social spending during the war. The agreement is part of a $122 billion support package for Ukraine.
Ukraine has signed amendments to the Memorandum of Understanding on the suspension of official debt payments with international partners in the G7 and and the Paris Club. This was reported by in the Ministry of Finance of Ukraine. of Ukraine, UNN reports.
I am grateful to our partners from the G7 countries for understanding Ukraine's needs in times of war. The achievement of today's agreement on the revision of debt obligations allows us to reduce the burden on the the budget until the end of the IMF program and save foreign currency liquidity to ensure for social spending. This voluntary suspension of debt repayment is part of the of the USD 122 billion international support package provided by Ukraine's partners. Ukraine.
Details
The Memorandum of of understanding on the suspension of official debt payments was signed on December 21 by the Minister of Finance of Ukraine Sergii Marchenko and a group of Ukraine's official creditors from the G7 countries and the Paris Club. In particular, the signatories were representatives of the governments of Canada, France, Germany, Japan, the United Kingdom, and the United States of America. The signatories were representatives of the governments of Canada, France, Germany, Japan, the United Kingdom, and the United States of America.
The signing of this document will allow to extend until the end of March 2027, which corresponds to the end of the current IMF EFF program, the Memorandum of of understanding on the suspension of payments on public and publicly guaranteed debt with a group of official creditors of Ukraine from the G7 countries and the Paris Club, which was concluded on September 14, 2022.
The Group of Official Creditors noted the work of the Government of Ukraine in fulfilling the conditions of the IMF Extended Fund Facility (EFF) program. Funding Facility (EFF) program and the implementation of important reforms, including in the area of debt policy, which will form the basis for the country's economic recovery in the future.
