Business news from Ukraine

Business news from Ukraine

RULING FACTION OF UKRAINIAN PARLIAMENT URGES TO START NEGOTIATIONS ON WRITING OFF UKRAINE’S PUBLIC DEBT

19 June , 2022  

The authorized representative of the Servant of the People faction, Lyubov Shpak, addressed President Volodymyr Zelensky and the government from the rostrum of the parliament with a proposal to immediately hold talks with international partners on writing off Ukraine’s public debt.

“The economic losses of our country daily amount to $1 billion a day… Therefore, we appeal to the President and the Cabinet of Ministers of Ukraine with a position to urgently transfer negotiations with all foreign partners on loan obligations to review and write off our debts,” she said during sittings of Parliament on Sunday, presenting the position of the faction.

Shpak in her speech stressed that the current situation is a typical force majeure for our country.

Earlier, the head of the Ministry of Finance, Sergei Marchenko, repeatedly called the issues of restructuring and writing off debts inappropriate. According to him, Ukraine plans to continue servicing its debt obligations, and from time to time sounding proposals for restructuring the state debt may harm plans. The Minister of Finance stressed that this issue is quite sensitive: “You can take advantage of the moment, but in the future it will hurt us a lot.