The parliament has approved the restructuring of Ukraine’s external debt. The relevant decision was approved by 309 votes, compared with the minimum required 226.
In particular, the parliament approved the Cabinet of Ministers-proposed draft law No. 3058, which amended the Budget Code of Ukraine.
As reported, Ukraine recently reached agreement with its major creditors on write-off of 20% of the nominal value of its debt. The agreement will reduce the country's debt burden by about USD 3.6 billion.
It defers payments for four years and sets the interest rate of 7.75% for all securities.
Ukraine has asked Russia to accept the same debt-relief terms as other creditors, but Russia has refused.
