Ukraine Secures $20 Billion Debt Restructuring with 37% Cut Amid War

Sep 3, 2024, 06:07 AM

Ukraine has secured approval from international bondholders to restructure over $20 billion of debt, with a 37% cut to the face value of its bonds. The deal, backed by 97% of the bondholders, was announced on Wednesday amid the ongoing war with Russia. The restructuring plan was facilitated by Ukraine's financial adviser, Rothschild & Co, who provided a comprehensive strategy to manage the country's sovereign debt. Yuriy Butsa, Ukraine's debt chief, played a key role in this process. This crucial financial maneuver comes as Ukraine continues to navigate the economic challenges posed by the conflict with Russia.