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HomeBusinessUkraine Says, Can Save Nearly $5.5 Billion By Postponing Debt Repayments

Ukraine Says, Can Save Nearly $5.5 Billion By Postponing Debt Repayments

Ukraine says it could possibly save almost $5.5 billion by suspending debt repayments

Ukraine can save 200 billion hryvnias ($5.45 billion) for precedence wants by deferring its exterior debt repayments, Prime Minister Denys Shmyhal stated on Tuesday.

Ukraine has launched a proper consent solicitation to holders of its worldwide bonds, proposing a two-year debt freeze on most of its bonds and giving collectors till August 9 to vote on the proposal.

Shmyhal additionally stated the Ukrainian authorities had authorised a request to the U.S. authorities for a “gas lend-lease” association to assist Ukraine by means of what he stated could be the hardest heating season in its historical past.

Yuriy Vitrenko, chief govt of Ukraine’s state oil and fuel firm Naftogaz, stated final week the corporate was working with the federal government to lift $eight billion in funds to purchase four billion further cubic metres (bcm) of fuel wanted for Ukraine’s 2022/23 heating season.

Vitrenko stated on July 18 that Ukraine at the moment had reserves of 11.5 bcm and had secured funding for imports to get reserves as much as 15 bcm, however {that a} larger goal of 19 bcm had been set by the federal government because of Russia’s invasion of Ukraine.

($1 = 36.7000 hryvnias)

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