Ukraine signed amendments to the Memorandum of Understanding on Official Debt Payments Suspension with International Partners in the G7 and Paris Club

Today, on 21 December, Minister of Finance of Ukraine Sergii Marchenko signed amendments to the Memorandum of Understanding on official debt payments suspension with a group of Ukraine's official creditors from the G7 and the Paris Club.

Today's signing will extend until the end of March 2027, which corresponds to the end of the current IMF EFF programme, the Memorandum of Understanding on official debt payments suspension on public and state-guaranteed debt with a group of official creditors of Ukraine from the G7 countries and the Paris Club, which was signed on 14 September 2022.

The signatories were representatives of the governments of Canada, France, Germany, Japan, the United Kingdom and the United States of America.

"I am grateful to our partners from the G7 countries for understanding Ukraine's needs in the time of war. Today's agreement on the revision of debt obligations allows us to reduce the burden on the budget until the end of the IMF programme and save foreign currency liquidity to ensure social spending. This voluntary debt payment suspension is part of the USD122bn international support package provided by the partners of Ukraine." said Minister of Finance of Ukraine Sergii Marchenko.

The group of official creditors noted the work of the Government of Ukraine in fulfilling the conditions of the IMF's Extended Fund Facility (EFF) programme and implementing important reforms, including in the area of debt policy, which will form the basis for the country's economic recovery.

Also during the meeting, the Minister of Finance stressed the importance of preserving financial resources, in particular through external private creditors of Ukraine providing the most appropriate debt treatment before the end of the debt service suspension they have granted in August 2022.