G7 agrees to postpone Ukraine's payments on sovereign debt until 2027 - Ministry of Finance
The agreement was signed by representatives of the governments of Canada, France, Germany, Japan, the UK and the USA
The Group of Seven countries have agreed to postpone Ukraine's sovereign debt repayment until 2027.
Source. This was reported by the press service of the Ministry of Finance.
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"The Minister of Finance of Ukraine Sergii Marchenko signed amendments to the Memorandum of Understanding on the suspension of payments on official debt with a group of official creditors of Ukraine from the G7 countries and the Paris Club.
Today's signing will extend until the end of March 2027, which corresponds to the end of the current IMF EFF program, the Memorandum of Understanding on the Suspension of Payments on Public and Publicly Guaranteed Debt with a Group of Official Creditors of Ukraine from the G7 and the Paris Club, which was signed on September 14, 2022," the statement said.
The signatories were representatives of the governments of Canada, France, Germany, Japan, the United Kingdom and the United States.
"I am grateful to our partners from the G7 countries for understanding Ukraine's needs in times of war. Today's agreement on the revision of debt obligations allows us to reduce the burden on the budget until the end of the IMF program and save foreign currency liquidity to ensure social spending. This voluntary suspension of debt repayment is part of a $122 billion package of international support provided by Ukraine's partners," Marchenko also noted.
Background. Earlier, the minister said that Ukraine is extremely dependent on external financial assistance and needs $41 billion for the next year, including aid from the IMF and the European Union.
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