Ukraine has a month and a half left to negotiate debt restructuring and avoid default — Reuters

Ukraine has a month and a half left to negotiate a restructuring of its national debt to avoid default. The state is currently continuing negotiations with bondholders.

This information reported by Reuters.

Since the onset of the full-scale war, Ukraine and international bondholders have agreed to defer payments until August 1, 2024.

Kyiv has proposed reducing payments by 60%, but some investors, holding $20 billion worth of bonds, found this offer unacceptable and are only willing to accept a 20% discount.

Ukraine’s Finance Minister, Serhiy Marchenko, stated that the country will continue negotiations with bondholders. However, if a mutual agreement is not reached by August 1, Ukraine faces the prospect of default.