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27

Ukraine and Top Creditors Agree to Restructure $18 Billion in Foreign Debt

By Tony Seruga

Ukrainian Prime Minister Arseny Yatseniuk hands flowers to Finance Minister Natalia Yaresko during a government meeting in Kiev on Thursday. CreditValentyn Ogirenko/Reuters

Ukraine and its main creditors agreed on Thursday to restructure $18 billion of the country’s foreign debt, in a rare deal between bond funds and a wobbly, emerging-market government.

If the deal is approved by the Parliament of Ukraine, it would write off 20 percent of the nation’s foreign debt, helping to avoid a drawn-out, Greek-style negotiation with large bondholders. The terms would also offer financial relief to Ukraine during a deep recession and an armed conflict with pro-Russia separatists…

Ukraine and Top Creditors Agree to Restructure $18 Billion in Foreign Debt

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