Today Ukraine received great news. Private owners of $19 billion of Ukraine’s Eurobonds have agreed to a substantial debt restructuring that will give Ukraine much-needed relief. The high bond yields have been sharply reduced, the bonds’ maturities have been prolonged, and the face value of the bonds has been reduced by 20 percent.According to the International Monetary Fund (IMF), this agreement has reduced Ukraine’s financing needs for the next four years by no less than $15 billion. This is a huge achievement for Ukraine’s government, and Kyiv managed to accomplish this without having to impose a moratorium on debt repayment. …read more
Source: Atlantic Council