Ukraine Will Be Able To Save USD 5 Billion In 2 Years Due To Deferred Payments On Debt Servicing

Deferring debt servicing payments on Eurobonds and warrants in the next 2 years makes it possible to direct the saved USD 5 billion to urgent needs: social protection and monetary support of military personnel.

This is stated in the NBU message with reference to the Minister of Finance Serhii Marchenko, Ukrainian News Agency reports.

"I would like to thank the member countries of the G7 and the members of the Paris Club of creditors, who agreed to postpone the payment of interest on the main debt by 2 years. We hope that commercial investors in our securities will also go on the terms that we have offered them. After all, we have 13 issues of securities, and for each of them we offered investors a delay in the payment of interest and repayment of the loan body," said Marchenko.

He also stressed that Ukraine has always been a decent borrower.

"We returned everything within a certain time frame and reduced the amount of public debt. Even for 5 months of war, we served our expenses and debts. Therefore, we are honest to investors and conducted preliminary explanatory work," the Minister said.

As Ukrainian News Agency earlier reported, on July 20, the group of creditors of Ukraine from the G7 countries and members of the Paris Club of creditors (Group of Creditors) announced its intention to postpone the payment of the principal amount of the debt and interest until the end of 2023 with the possibility of extending the postponement by a year (until 2024).