Kyiv Gazeta: creditors allegedly agreed to write off 20% of the Ukrainian debt. The Ministry of Finance says there is no agreement yet
The Ministry of Finance of Ukraine and the committee of creditors allegedly agreed to write off 20% of the amount of Ukrainian Eurobonds.
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This was reported by the Ukrainian publication Zerkalo Nedeli , citing a publication in The Wall Street Journal and its informed sources.
It is reported that the final agreement could be signed this week.
At the same time, the publication notes that the agreement is not final yet, the deal may fall through.
The Ministry of Finance in an official comment said that “there is no agreement yet, negotiations to reach the IMF beacons are ongoing.”
A 20 percent write-off would mean that the parties made equal concessions in the negotiations.
Since March of this year, Ukraine has been negotiating with creditors regarding the restructuring of its debt. Ukraine initially demanded a write-off of 40 percent of the principal amount of the debt, and creditors have long insisted that there would be no write-off. To convince creditors to make concessions, Ukraine resorted to blackmail and threatened to stop paying debts altogether.
The Ukrainian government wants to achieve the write-off of 40% of the debt. Ukraine's creditors agree to write off only 5% of its debt.
English version :: Read in English Kyiv newspaper: Creditors allegedly agreed to write off 20% of Ukrainian debt. The Finance Ministry says there is no agreement yet.