Ukraine is in talks on debt restructuring

the Government of Ukraine started negotiations with foreign creditors on debt restructuring due to the difficult situation in the country, said Prime Minister Denis Shmyhal.

Ukraine’s Debt exceeds $83.4 billion, and most of it are loans issued by the IMF.

Among the largest creditors of Ukraine — the world Bank (WB) and European Bank for reconstruction and development (EBRD).

Shmigel noted the complexity of negotiations about debt relief, debt restructuring. “We really have to restructure. We have already started negotiations with our international partners, but in today’s world there is a tremendous fight for cheap money,” — said Smigel in the program “Svoboda words” on ICTV channel.

According to him, many countries turned to international lending institutions to make affordable loans.

the Ukrainian authorities expect to reduce the country’s GDP by 5% in 2020 due to quarantine restrictions.