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Ukraine Says, Can Save Nearly $5.5 Billion By Postponing Debt Repayments

Ukraine Says, Can Save Nearly .5 Billion By Postponing Debt Repayments


Ukraine Says, Can Save Nearly $5.5 Billion By Postponing Debt Repayments

Ukraine says it may save practically $5.5 billion by suspending debt repayments

Ukraine can save 200 billion hryvnias ($5.45 billion) for precedence wants by deferring its exterior debt repayments, Prime Minister Denys Shmyhal mentioned on Tuesday.

Ukraine has launched a proper consent solicitation to holders of its worldwide bonds, proposing a two-year debt freeze on most of its bonds and giving collectors till August 9 to vote on the proposal.

Shmyhal additionally mentioned the Ukrainian authorities had authorised a request to the U.S. authorities for a “gasoline lend-lease” association to assist Ukraine by way of what he mentioned could be the hardest heating season in its historical past.

Yuriy Vitrenko, chief govt of Ukraine’s state oil and gasoline firm Naftogaz, mentioned final week the corporate was working with the federal government to boost $eight billion in funds to purchase four billion further cubic metres (bcm) of gasoline wanted for Ukraine’s 2022/23 heating season.

Vitrenko mentioned on July 18 that Ukraine at present had reserves of 11.5 bcm and had secured funding for imports to get reserves as much as 15 bcm, however {that a} increased goal of 19 bcm had been set by the federal government resulting from Russia’s invasion of Ukraine.

($1 = 36.7000 hryvnias)



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