Ukraine was allowed to postpone foreign debt payments until the end of 2023

On July 20, a group of creditors of Ukraine from the G7 countries and members of the Paris Club (“Group of Creditors”) allowed Ukraine to postpone debt payments until the end of 2023 with the possibility of extending the postponement for a year (until 2024).

Source: Ministry of Finance of Germany

The Group of Creditors of Ukraine includes Canada, France, Germany, Japan, Great Britain and the United States of America. The Groupʼs observers also include Australia, Austria, Belgium, Brazil, Denmark, Finland, Ireland, Israel, Italy, Korea, the Netherlands, Norway, Spain, Sweden and Switzerland.

“We, as official bilateral creditors of Ukraine, intend to ensure an agreed suspension of Ukraineʼs debt service from August 1, 2022, to the end of 2023, with the possibility of an additional year, according to our requirements and in accordance with the national legislation of the creditor countries.”

In addition, they called on other owners of Ukrainian debts to also allow it not to make mandatory payments until the end of 2023.

“Approval by bondholders and options of Ukraineʼs proposals will mean significant support for the government and people of Ukraine,” the Group of Creditors emphasized.

See also: The USA will send four more HIMARS to Ukraine

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