Kiev (AFP) – Ukraine said Thursday it had reach a crucial debt restructuring agreement that will see lenders accept a 20-percent principal write-down and keep global markets open to the cash-strapped ex-Soviet state.”The deal agrees a 20 percent haircut on Ukraine’s stock of sovereign and sovereign guaranteed debt, having immediate debt relief totalling approximately $3.6 billion,” the finance ministry said in a statement.The announcement marks a monumental victory for Ukrainian Finance Minister Natalie Jaresko — a US-born financial expert whom President Petro Poroshenko plucked from a Kiev investment firm in December and tasked with saving the war-torn country from hurtling …read more
Source: Business Insider
