This decision is outlined in Resolution No. 977, dated Aug. 27.
The document specifies that due to restructuring actions involving the state's external bonds from 2015, specifically the fourth to ninth series, payments on these obligations will be paused from Sept. 1, 2024.
Tthe government has also ordered a temporary suspension of payments from Sept. 3, 2024, on state obligations owed to Cargill Financial Services International, Inc. As of the end of July, these debts amounted to $703.7 million, according to the Ministry of Finance. From Nov. 9, 2024, payments on state-guaranteed obligations concerning the 2021 bonds of NPC Ukrenergo, valued at $825 million, will also be halted.
Furthermore, from May 31, 2025, payments on obligations related to the 2015 state derivatives (GDP warrants) will be temporarily suspended until the restructuring of these instruments is completed.
Ukraine reached a preliminary agreement with some of its private creditors to restructure approximately $23 billion in international debt in July 2024, potentially allowing the country to avoid default. The bondholders' committee agreed to accept nominal losses amounting to 37% of their assets across 13 bonds, waiving claims worth $8.67 billion, according to the agreement's terms.
Ukraine aims to save $11.4 billion over the next three years through a combination of lower coupon rates and extended repayment terms.