Sergii Marchenko: Ukraine will Save over USD 5 Billion during Two Years As a Result of Suspension of Debt Service Payments

The deferred payments on all series of Eurobonds and GDP-linked notes falling due over the next two years allow directing the saved USD 5 billion for urgent needs: social protection and financial support of military servants.

Our state budget gap is about USD 5 billion every month. The successful consent solicitation transaction will allow us to use the saved funds for critical budgetary purposes.

This was announced by Minister of Finance Sergii Marchenko on the National TV channel.

“I want to thank the G7 member countries and the members of the Paris Club, who agreed to suspend payments on the bilateral debt for 2 years. We hope that commercial investors in our securities will also accept the conditions that we have offered them. We have 13 issues of Eurobonds, and for each of them we offered investors to extend maturities by 2 years ”, said Minister of Finance Sergii Marchenko.

The Minister of Finance also emphasized that Ukraine has always been a responsible borrower:

“We repaid everything in time and reduced the state debt. Even during the 5 months of the war, we serviced our expenses and debts. We are honest with investors and have done preliminary explanatory work.", - said Sergii Marchenko.