KYIV/LONDON (Reuters) – Ukraine has asked its international creditors, including Western powers and the world’s largest investment firms, to freeze its debt payments for two years so it can focus its dwindling financial resources on repelling Russia.
Facing an estimated 35% to 45% crash in GDP this year following Moscow’s invasion in February, Ukraine’s finance ministry said on Wednesday it was hoping to finalise the deferral on its roughly $20 billion of debt by Aug. 9.
The delay, which was quickly backed by both the major Western governments and heavyweight funds that have lent to Kyiv, would come just in time to put off around $1.2 billion of debt payments due at the start of September.
www.investing.com/news/economy/ukraine-to-seek-debt-payment-freeze-as-war-ravages-economy-2849448