The group of Ukraine’s six creditor countries, which includes Germany and France, announced on Wednesday 20 July its willingness to suspend the servicing of the debt that Ukraine has contracted with its members until the end of 2023.
The suspension, which will take effect at the beginning of August, could be extended for a further year, in response to a formal request from the Ukrainian authorities. Ukraine’s other bilateral creditors are invited to do the same.
To justify this measure, the six creditor countries point to the “exceptional circumstances” Ukraine is facing due to Russia’s “illegal” military invasion, as well as its “exemplary track record” of debt servicing to date.
Ukraine is also asking for an adjustment of its debt repayment in line with its economic growth.
Austria, Belgium, Denmark, Finland, Ireland, Italy, the Netherlands, Spain and Sweden participate in the group of creditor countries as observers.
See the statement from the group of creditor countries: https://aeur.eu/f/2pb (Original version in French by Mathieu Bion)