Ukraine announced that its international creditors have formally approved a plan to restructure $20 billion of its foreign debt because of the ongoing war with Russia, Reuters reported, citing BTA.
The approval comes ahead of the deadline, which means restructuring can go ahead, Kiev said.
The plan calls for the par value of outstanding international bonds to be reduced by more than a third, bringing Ukraine's debt down to levels deemed sustainable by the IMF and the country's pro-Western governments so that their support can continue.< /p>
Finalizing the debt restructuring deal is "a key step in ensuring Ukraine's fiscal stability so that the country can continue to finance its defense," Finance Minister Serhii Marchenko said.