The outcome of the last bond holders’ meeting was summarized in Washington: “Ukraine indicated that it could not accept the Restricted Holders’ Proposal and declined to make any further proposal to the Restricted Holders before the end of the Restricted Period.”
A non-payment of now USD 600 million will trigger Ukraine’s default.
This reminds that the debt situation of Ukraine before the war was already important. The war has made it worse. The consequence could be a default triggering the immediate claims of other creditors. In such a situation, financial support of Ukraine will become even more difficult to justify.
The continuation of the war is not the way out of Ukraine’s debt mess. It needs agreements in all directions, but first with the US to terminate Biden’s War.
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