Reported about 1 year ago
On June 13, 2024, during the G7 summit in Italy, President Zelensky of Ukraine arrived as Ukraine's economy struggles following the 2022 Russian invasion. The G7 leaders agreed to offer a $500 billion loan to Ukraine using the interest from frozen Russian sovereign assets to support the country, which is facing a total debt of $1520 billion. Ukraine's debt consists mostly of external debts totaling around $108.4 billion, including $30 billion owed to Russia. The country is undergoing debt restructuring with overseas commercial institutions, primarily involving Eurobonds and GDP-linked warrants. The debt restructuring deadline for Eurobonds is approaching in late August, with uncertainties surrounding the repayment agreements. Additionally, Ukraine owes around $75 billion to various official creditors and nearly $16.3 billion to commercial institutions, with the largest debt to Cargill. The IMF plays a critical role in Ukraine's debt scenario, providing substantial financial assistance and closely monitoring the country's ability to restructure commercial debts.
Source: YAHOO