Reuters: Ukraine wants to restructure the national debt before the deadline and may include GDP warrants in the agreement

Author:
Oleksandra Opanasenko
Date:

Ukraine has told investors that it expects to restructure about $20 billion of international debt by August 1, 2024, in order to maintain access to international markets and meet the requirements of the International Monetary Fund (IMF).

This was reported by two Reuters sources after a telephone conversation between the Ministry of Finance and creditors on July 1.

Ukraine has $19.7 billion outstanding on its international bonds and owes $2.6 billion on GDP warrants.

According to sources, Ukraine also intends to include GDP warrants in its efforts to restructure international bonds worth about $20 billion.

Reuters notes that the conversation effectively marks the beginning of Ukraineʼs renewed efforts to engage with investors after formal restructuring talks last month ended without a deal.

The government commissioner for managing the state debt of Ukraine Yurii Butsa, who manages the countryʼs interaction with creditors, took part in the conversation. He was joined by government representatives and head of the IMF mission in Ukraine Gavin Gray. From the creditorsʼ side, members of the Special Committee of Creditors, as well as investors who were not part of the group, joined the group.

"They believe that an agreement can be reached in the near future," said one of the publicationʼs sources.