KIEV — Ukraine struck a critical debt deal Thursday with creditors that averts a default and opens to the door to continued international support for its struggling economy.
The agreement is a victory for Ukraine’s American-born finance minister, Natalie Jaresko. For the past five months, the former U.S. diplomat and fund manager has played the starring role in a highly publicized drama of complex negotiations with private holders of Ukrainian bonds led by Franklin Templeton.
Jaresko got half of what she was asking in debt write-off, accepting that investors take a 20 percent haircut on Ukraine’s $18 billion privately-held sovereign debt. On …read more
Source: European Voice
