Ukraine's Critical Debt Deal: A Path to Economic Stability

Ukraine's Finance Minister Serhiy Marchenko stated on Monday that a crucial debt restructuring deal is anticipated by August, despite ongoing negotiations with bondholders. He emphasized the importance of a robust economy to support the country's defense and highlighted that timely debt restructuring is essential for continued international support.

Reuters | London | Updated: 17-06-2024 12:40 IST | Created: 17-06-2024 12:40 IST
Ukraine's Critical Debt Deal: A Path to Economic Stability
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Ukraine's finance minister said on Monday that a "critical" debt rework deal was still expected by August even as talks with a bondholder group failed to reach an agreement. Finance Minister Serhiy Marchenko said the country would continue talks with all holders of its some $20 billion in international bonds in order to get a deal before the current payment suspensions expire in August.

"Strong armies must be underpinned by strong economies to win wars," he said, adding the country's economy was a "fragile balance" that hinged on consistent and substantial support from its partners. "Timely debt restructuring is a critical part of this support." (Reporting By Libby George, editing by Karin Strohecker)

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