The Ministry of Finance has not held new negotiations with creditors following Ukraine’s default on state GDP warrants.

These warrants, with a nominal value of $2.6B, have not prompted additional rounds of negotiations with their owners. Currently, the ministry is limited to “continuous dialogue” with the creditors’ committee and individual investors but has not yet scheduled formal consultations on the updated restructuring terms.

The Ministry of Finance recalled that the only round of closed negotiations took place from April 15-23 2025, and ended without reaching an agreement. There are no clear deadlines for completing the debt restructuring, but efforts are focused on reaching an agreement by the end of 2025, the department noted.

The ministry is not currently the recipient of any lawsuits from warrant holders arising from the missed payment this year. Its main goal remains reducing the debt burden without harming Ukraine’s post-war recovery.