Ukraine strikes deal to restructure $20bn of debt

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The story "Ukraine strikes deal to restructure $20bn of debt" was covered 10 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 10h ago

Ukraine strikes deal to restructure $20bn of debt - Financial Times

Quick Summary:

The terms of the deal reflect deep uncertainty over the impact of a longer conflict on Ukraine’s economy and its ability to bear significant amounts of debt.

They will also receive a bond worth 23 cents, which will not pay interest for the next three years, but could increase to 35 cents if Ukraine’s nominal gross domestic product exceeds IMF targets by at least 3 per cent, and up to 7.5 per cent, in 2028.

Monday’s deal also has terms on how to approach a potential further restructuring in 2027, when Ukraine’s official creditors are expected to provide their own debt relief.