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The post Ukraine Creditors Form Committee to Try and Claw Back Their Money first appeared on USSA News | The Tea Party’s Front Page.. Visit USSANews.com.
Zelenskyβs government seems to always be need a new multibillion dollar bailout every few months, but is this endless subsidy sustainable? At what point with Ukraineβs western sponsors start wanting their money back? Recently, Kievβs creditors have been raising their concerns over the sovereign viability of NATO new rump state.
βWhen we agreed the moratorium in 2022, there was ability to pay but obviously a national need to preserve resources,β said one bondholder.
βNow we know the debt is unsustainable, it doesnβt make sense to kick the can down the road.βΒ
Read the details hereβ¦
FT reportsβ¦
Ukraineβs international bondholders have formed a creditor committee ahead of a $20bn debt restructuring that Kyiv is aiming to negotiate by September, amid uncertainty over the arrival of funding to help in its war with Russia. Bondholders organised the committee, a key step before beginning talks, βin response to a request from the government of Ukraineβ, the committee said on Tuesday.
Volodymyr Zelenskyyβs government has signalled that it wants to agree debt relief before the August deadline on a two-year moratorium on payments, which bondholders granted to Ukraine in the early months of Russiaβs invasion.
The restructuring, which affects about one-fifth of Ukraineβs external debt pile and could include state companies, is being launched as Kyiv faces huge uncertainty about when it will receive other western funds to help fight the war.
Western governments also disagree over whether or not Ukraine can access up to $330bn in Russian reserve assets frozen in the west for reconstruction β an issue that has already caused frustration among bondholders.
(β¦) On Tuesday Janet Yellen, the US Treasury secretary, urged Congress to unlock more than $60bn in military and non-military support for Ukraine that has been delayed. G7 countries would continue talks on the frozen Russian assets this week, Yellen added.
(β¦) Ukraineβs debt βremains unsustainable in the absence of a substantial debt restructuringβ, said Evghenia Sleptsova, senior emerging-markets economist at Oxford Economics. But there is βexceptional uncertaintyβ around the process, given questions around US support and difficulties with making economic projections, she addedβ¦
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The post Ukraine Creditors Form Committee to Try and Claw Back Their Money first appeared on USSA News | The Tea Party’s Front Page.. Visit USSANews.com.
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