A group of creditors of Ukraine allowed it to postpone debt payments until the end of 2023

A group of creditors of Ukraine allowed it to postpone debt payments until the end of 2023. This term can be extended for another year.

The corresponding application is posted on the website of the 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," the message reads.

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.

• On July 19, the Cabinet of Ministers adopted a resolution in which it asked for a two-year postponement of the payment of foreign debts. According to the document, the final maturity date of the bonds is postponed for a period of 24 months from the corresponding final maturity date of the bonds.