Ukraine secures deal to defer debt payments

Source: Denys Shmyhal/Telegram

Ukraine’s PM Denys Shmygal said on Monday that his goverement has secured a deal with bondholders allowing to resctructure the country’s debts.

“We are restoring debt sustainability. Today, we have reached a fundamental agreement with the Committee of Eurobond Holders of Ukraine,” the prime minister said in a Telegram message.

This deal comes as the breather for Ukraine’s struggling economy as it is  projected to save $11.4 billion over the next three years and $22.75 billion by 2033.

Earlier in June,  Kyiv was facing a grim threat of default after it faced a setback in the talks with itscreditors on restructuring of approximately $20 billion in debt.