Zelenskyy signs law allowing for suspension of external debt payments

Ukraine's President, Volodymyr Zelenskyy, has approved legislation allowing the government to defer public debt payments until October if necessary.

Source: website of the Verkhovna Rada (Ukraine’s Parliament)

Details: According to the e-version of the bill’s information card, the document was delivered to the President's Office on July 24 and returned to the parliament on 31 July with Zelenskyy's signature.

The bill allows the government to temporarily defer payments on foreign public debt until 1 October 2024.

It also allows the government to transfer the former Ukravtodor's state-guaranteed debt under public debt and restructure it (Ukravtodor, or State Service of Special Communications and Information Protection of Ukraine, is the agency within the Ministry of Infrastructure responsible for the road signs policy in Ukraine). 

Background: 

• The Budget Committee of the Verkhovna Rada proposes that the Parliament provide the government with the authority to postpone payments on external public debt until restructuring negotiations are completed.
• The Verkhovna Rada approved the law allowing the government to postpone payments on external public debt until 1 October 2024.

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