Ukraine Creditors Extend Debt Service Freeze Until 2027 - French Finance Ministry

The Group of Creditors of Ukraine has extended the suspension of the country's debt service payments until 2027, following the decision of the International Monetary Fund (IMF) to provide Kiev with a four-year loan package, the French Finance Ministry said on Saturday

MOSCOW (UrduPoint News / Sputnik - 25th March, 2023) The Group of Creditors of Ukraine has extended the suspension of the country's debt service payments until 2027, following the decision of the International Monetary Fund (IMF) to provide Kiev with a four-year loan package, the French Finance Ministry said on Saturday.

Earlier this week, the IMF reached a staff-level agreement with Kiev on a $15.6 billion loan program for four years. The package is designed to support the country's "ongoing gradual economic recovery," the IMF said.

The group of creditors held a meeting in the presence of representatives of the IMF and the World Bank, during which they announced the extension of the debt moratorium for Ukraine from August 1, 2022 for the period of the IMF program, set to expire in 2027, the French Foreign Ministry said in a statement.

The group also called on other creditors to reach an agreement with Ukraine to solve the country's debt problem.

The Group of Creditors of Ukraine includes Canada, France, Germany, Japan, the United Kingdom and the United States.