US EditionUkraine Defaults on Sovereign Debt Payment
8 Articles
8 Articles
Ukraine defaults on GDP-linked sovereign debt payment
Ukraine has declined to pay holders of $2.6 billion in warrants linked to the country's GDP, defaulting on its sovereign debt payment, the Wall Street Journal reported on June 3.The country's Finance Ministry announced last week it would skip a $665 million government debt payment after failing to agree on restructuring terms with creditors.Ukraine said in April it had failed to reach an agreement to restructure a debt consisting of so-called GD…
The Organization for Economic Cooperation and Development predicts that Ukraine's economic growth, which slowed last year to 2.9% from 5.3% a year earlier, will slow further this year to 2% and remain at this level in 2026.
This was due to Ukraine ' s refusal to pay $665 million to the owners of GDP-warrants.
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