27 Dec 2023 15:35

After restructuring its Eurobonds, Ukraine may again resort to borrowing - Finance Minister

MOSCOW. Dec 27 (Interfax) - The objectives of the Ukrainian Finance Ministry during upcoming negotiations in 2024 on the next restructuring of commercial debt are to avoid default and create the possibility of returning to the market from 2025-2026, Ukrainian media reported citing Finance Minister Sergei Marchenko.

"Our key tasks are: a) not to default; b) to be able to borrow on the capital market - we will need to be able to do this, I think, starting in 2025-26; c) to fulfill our obligations under the International Monetary Fund program, sticking to our indicators regarding debt to GDP, and others envisaged for the medium term," the minister said.

A video of his statements was published on YouTube.

Marchenko recalled that the deferment of payments on Ukrainian Eurobonds expires on September 1, 2024.

"We have time, and we are preparing the appropriate decisions," the minister said, adding that there is still no complete picture, but there are several action plans.

The Finance Minister said that in the domestic borrowing market, there is no risk of restructuring or the state refusing to fulfill its obligations, but the task, on the contrary, is to expand the circle of bond owners and investors.