The Cabinet of Ministers introduces a payment moratorium for Ukraine’s Eurobonds.

The Cabinet of Ministers exercised the right granted to it by the Ukrainian Parliament and introduced a temporary moratorium on Ukraine’s Eurobond payments.

“In connection with the implementation of transactions with the state debt under the bonds of 2018’s external state loans of the first series, from August 1, 2024, payments on the state’s debt obligations will be temporarily suspended,” the relevant resolution reads.

In addition, the Cabinet of Ministers, by its decision to implement the specified law, transferred the state-guaranteed debt of the former state agency, Ukravtodor, to the perimeter of the state debt and instructed its restructuring be carried out (this concerns a series of Eurobonds in 2021 for a total amount of $700M and interest).

Also, the Ministry of Finance is tasked with issuing bonds for Ukraine’s external state loans in 2024 under the agreed-upon conditions, which provide for payments to creditors for consent of up to $246M.