Ukraine is ready to send international bondholders a USD 20 billion debt restructuring plan USD until the beginning of May, announced Reuters.
It is important for Kiev to secure a debt restructuring before the two-year payment freeze expires in August, her sources said. The Ukrainian Ministry of Finance has not yet commented on the request in this regard.
It is not yet clear what proposals the Ukrainian side will present amid uncertainty about the prospects for the economic and financial situation and Kiev's ability to repay its debts. Bondholders hope to receive new securities as a result of the optimization process, on which interest will be paid from the beginning, but for Ukrainians this may prove to be an unbearable burden, the report said.
Last week, Ukrainian bondholders announced the formation of a special committee of creditors in anticipation of "in the near future" formal negotiations. The American firms Wei and Gotshal & Scabies. On financial issues, the commission will be consulted by experts from the American investment bank PJT Partners.
As previously reported, Ukraine has a projected budget deficit of $43.9 billion for 2024. Authorities expect to cover most of it with Western aid. According to the Ministry of Finance, at the end of 2023, Ukraine's public debt has reached 80% of GDP.