Cabinet of Ministers announced the start of national debt restructuring

Source : 112 Ukraine

Ukraine temporarily suspends making payments on the debt obligations
18:48, 22 September 2015

The Cabinet of Ministers issued a decree on the start of restructuring of national and government-guaranteed debt and its partial relief. This is stated in the Government Decree № 978-p of September 22.

"From September 23, 2015, temporary suspension of the repayment and servicing of national and government-guaranteed debt is entered," the document says.

According to the decree, Ministry of Finance and Ministry of Infrastructure are instructed to temporarily suspend payments on debt, and the State Treasury Service to stop operations with funds allocated in the state budget for the aim of repayment and servicing of the national debt.

Recall, that the restructuring enables Ukraine to cancel $ 3.6 billion debt to private creditors. September 17, Verkhovna Rada passed the government-initiated package of laws on the restructuring of the national debt. September 18, President of Ukraine Petro Poroshenko signed these laws.

Related: World Bank forecasts Ukrainian GDP decline for 12% in 2015

Related: The European Investment Bank to provide € 460 million loan for Ukraine

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