EU Commission urges US, European investment giants to reach ‘swift’ debt restructuring deal with Kyiv

Category: Finance

The European Commission has urged private creditors to quickly reach an agreement with Ukraine to prevent a default on $20 billion in debt. A two-year moratorium on interest payments is set to expire on August 1, and negotiations have stalled despite Ukraine's request for a 60% debt reduction. The situation is critical as Ukraine's military spending has surged and its debt-to-GDP ratio is projected to reach 94%. Without restructuring, Ukraine risks not being able to finance its defense and recovery efforts.

Keywords: Ukraine, debt restructuring, European Commission

Source: Euractiv

Update At: 7/22/2024

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