Ukraine and Japan agree $50 million debt deferment

17 January, 12:46 AM
Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Kuninori Matsuda and Minister of Finance of Ukraine Sergii Marchenko (Photo:Ministry of Finance of Ukraine)

Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Kuninori Matsuda and Minister of Finance of Ukraine Sergii Marchenko (Photo:Ministry of Finance of Ukraine)

Japan and Ukraine have reached an agreement to defer payments on $50 million in Japanese loans, the Ukrainian Finance Ministry announced in a message on its website on Jan. 16.

The corresponding document was signed by Japan’s Ambassador to Ukraine Kuninori Matsuda and Ukrainian Finance Minister Serhii Marchenko.

The deal postpones Kyiv’s payments on four loans from Japan, totaling around $50 million (JPY 8 billion), to 2027-2031.

“The deferral of payments on servicing and repayment of loans will allow to reduce the debt burden on the state budget and allocate funds to finance the needs of security and defense,” the message quotes Marchenko.

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The minister also noted that this year he counts on the support of Japan, which will preside over the G7 in 2023, and the strengthening of cooperation between the governments of the countries.

Earlier, the ministry said Ukraine is liable for $3.3 billion in 2023 sovereign debt payments.

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