US hopes Ukraine will agree on debt restructuring with private creditors
The United States hopes that Ukraine will reach an agreement with private creditors on debt restructuring by 1 September.
Source: Wally Adeyemo, US Deputy Treasury Secretary, at a briefing in Kyiv
Quote: "I am aware that they [the Ukrainian government - ed.] are negotiating with private creditors, and I expect they will achieve an arrangement before 1 September. We hope they achieve it.
This is one of the terms of the IMF programme, and it is in everyone's interest to achieve this accord," Adeyemo said.
According to Adeyemo, the biggest variable in terms of how much money Ukraine will potentially need next year is whether the war will continue.
"Our goal is to do everything possible to try to end this war as soon as possible, both by providing Ukraine with support in the near term and by ensuring that it takes appropriate steps," Adeyemo added.
He also said that Ukraine has succeeded by returning to the possibility of exporting agricultural products, which, as he states, will help Ukraine to be more self-sufficient.
"I can say that thanks to the actions of the Ukrainian government, Ukraine is able to meet its needs in the future, not only in the case of the fight against Russia and the end of this war, but also in the case of building a sustainable economy for the future," Adeyemo concluded.
Background:
- Ukraine is preparing to send a debt restructuring plan worth €20 billion to holders of international bonds in early May.
- A consortium of foreign bondholders, including BlackRock BLK and Pimco, intends to urge Ukraine to resume interest payments on its debt next year.
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