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Debt-related developments continue to shape Ukraine’s economic landscape. Recently, two deputies and a criminal ring leader were detained for extorting $60,000 from a former deputy mayor, emphasizing the impact of corruption on the economy. Fitch Ratings has maintained Ukraine's rating at ‘limited default,’ reflecting the country's ongoing financial struggles. Meanwhile, President Volodymyr Zelenskyy signed a law introducing a moratorium on foreign debt repayments, providing temporary relief. The Supreme Court of Great Britain's decision favoring Ukraine against a $3 billion 'Yanukovych’s debt' claim marks a legal triumph. These events highlight the complexities surrounding Ukraine's debt challenges, influencing both economic and political realms.
What impact does the moratorium on foreign debt have on Ukraine's economy?
The moratorium signed by President Zelenskyy allows Ukraine to temporarily halt foreign debt payments, easing financial pressure. It aims to stabilize the economy by reallocating resources towards pressing needs rather than immediate repayments, providing a buffer for economic planning and recovery during challenging times.
What does a 'limited default' rating signify for Ukraine?
A 'limited default' rating indicates a severe financial state where a country has failed to meet some of its debt obligations without completely ceasing all repayments. For Ukraine, this reflects ongoing economic difficulties, affecting its ability to secure favorable terms in international financial markets.
How did the Supreme Court ruling benefit Ukraine in the debt case with Russia?
The ruling favored Ukraine in a $3 billion debt dispute linked to the previous leadership's liability under Yanukovych. The decision alleviates some financial burdens, allowing Ukraine to focus on current economic challenges without the immediate pressure of repaying that disputed amount.
Why were deputies involved in an extortion case in Dnipropetrovsk?
In Dnipropetrovsk region, two deputies and a criminal leader extorted $60,000 from a former deputy mayor. This incident illustrates the endemic corruption challenges faced by Ukraine, which undermine public trust and economic integrity, highlighting the need for ongoing reform and vigilance in governance.
What challenges does Ukraine face in restructuring its foreign debt?
Restructuring Ukraine’s foreign debt involves negotiating terms with creditors under severe economic constraints. The challenge lies in aligning international support with domestic capabilities to ensure sustainable repayment plans while accommodating economic growth and stability needs within the geopolitical context.
News debt
Kharkiv has formed largest systemic debt for gas and electricity among Ukrainian cities – media The accumulation of debts is occurring against a backdrop of constant attacks on energy infrastructure. This means that the industry needs resources not only for current operations but also for restoration and protection. Due to the accumulation and non-payment of debts, there is a risk of... 5 554 42 Previously in trend: Rates for housing services and utilities
Two deputies and criminal leader extorted $60,000 from former deputy mayor in Dnipropetrovsk region. They have been detained. PHOTOS Police in Dnipropetrovsk region detained two deputies and a criminal leader who extorted $60,000 from a former deputy mayor. 3 925 11
Fitch affirms Ukraine’s rating at ’limited default’ The international rating agency Fitch Ratings has affirmed Ukraine's long-term foreign currency rating at RD - limited default. 3 503 27
Zelenskyy signs law on moratorium on foreign debt repayment President Volodymyr Zelenskyy has signed Law No. 11396, which allows the government to suspend foreign debt payments until October 1. 41 0
Supreme Court of Great Britain ruled in favor of Ukraine in case of Yanukovych’s three-billion dollar "debt". The Supreme Court of Great Britain ruled in favor of Ukraine in the case of "Yanukovych’s debt" of $3 billion. 7 692 12
It is prohibited to disconnect utilities due to debts during martial law, - Ministry of Reintegration It is prohibited to disconnect utilities due to debts during martial law 5 285 21 Previously in trend: Russian aggression against Ukraine War
80,000 consumers left without water supply in Luhansk region Lysychansk water service company situated in Luhansk region was turned off due to the debt for electricity supply. 1 379 18
"We owe $54B inherited from today's 'fighters for the truth'," - Ukraine's president on cooperaton with IMF President of Ukraine Petro Poroshenko says the current state of the economy would already allow Ukraine to do without borrowing if it wasn't for old debts. 22 195 474
Broadcasts of Ukraine's national TV channel suspended over debts, National Broadcaster CEO Alasania says Broadcasting, Radiocommunications & Television Concern (BRT) suspended broadcasts of the UA:Pershyi national television channel over debts. 6 100 62
Ukraine must repay $27B in next four years, - PM Hroisman Ukraine's Premier Volodymyr Hroisman says the country must settle $27 bln in external debt in the next four years. 28 374 157
London court to hear Ukraine-Russia $3B Eurobond dispute today - Finance Ministry On Jan. 22, a London-based appeals court is to consider Ukraine's appeal against the decision of the High Court of London, which obliges to pay Russia $3 billion of the so-called "Yanukovych debt" for the Eurobonds issued by Ukraine in 2013. 5 474 55
Regulatory authority to cover debts owed to Akhmetov’s energy producers, Enerhoatom to receive no debt repayment, - journalistic investigation At a meeting on Tuesday, Jan. 9, Ukraine’s National Energy and Utilities Regulatory Commission (NEURC) which regulates and supervises the energy and utilities sectors intends to allocate 2 billion hryvnia for the power generating companies running the thermal power plants. 17 256 261
PM Hroisman slams Ukroboronprom head Romanov over staff salary arrears, advises him to resign Ukraine’s Prime Minister Volodymyr Hroisman advised Director General of Ukroboronprom State Concern Roman Romanov to file resignation over unsettled salary arrears of the Mykolaiv-based shipyard staff. 35 288 163
Occupied areas of Donetsk region owe 1.6 billion hryvnia for water that should be paid by Russia, - Zhebrivskyi The debt to Voda Donbasu utilities company for water consumed on the occupied area of the Donetsk region has reached about 1.6 billion hryvnia ($61.54 million). 31 180 154 Previously in trend: Occupied territories - Crimea and Donbas
Benefits monetization to be launched in a week, about 1.5 million Ukrainian families to receive payments, Deputy PM Rozenko says The Ministry of Finance and Social Policy of Ukraine has only a week to submit and implement procedure allowing the people to receive the monetized part of the saved benefits. The local authorities should implement this resolution. 37 269 109
Citizens owe 11.9 billion hryvnia for heating and hot water, - Statistics Service Ukrainian citizens owe 11.9 billion hryvnia ($440.7 million) for heating and hot water services. The amount increased by 6.7% in February from that owed in January 2017. 27 642 130 Previously in trend: Rates for housing services and utilities
UK court rejects full trial in case of Ukraine's $3B debt to Russia as Kyiv has no “justiciable defence” London's High Court has ruled March 29 that it would not be right for a $3bn bond case brought by Russia against Ukraine to proceed to full trial as Kyiv failed to present a court-ready defense. 75 203 217
No "justifiable defence" in Ukraine's $3 bln Russia loan case London's high court ruled on Wednesday that Ukraine did not provide "justifiable defence" in a $3 billion Eurobond case (the so-called "Yanukovych's loan" by Russia to Ukraine) brought by Russia against Kyiv and that it would not be right for the case to go to full trial. 50 504 101
Ukraine does not have to return "Yanukovych's loan" to Russia, Finance Minister Danyliuk says Ukraine does not have to return the $3 billion loan to Russia, which had been obtained during fugitive president Yanukovych's tenure, prior to Euromaidan events. 19 427 59
Ukraine’s foreign debt decreased by $23.5 billion over year, - PM Yatseniuk Ukraine managed to reduce its gross external debt by $23.5 billion or 16 percent over the year. 14 855 86
Ukraine-Russia total mutual claims amount to almost $100 billion Mutual claims filed by Russia and Ukraine in lawsuits and other legal claims from Stockholm to The Hague amount to almost $100 billion. 5 453 2
Russia and Ukraine fails to agree upon negotiations on "Yanukovych debt", - Russian Finance Ministry Russia and Ukraine, with the mediation of Germany have discussed the possibility of negotiations on Ukraine's $3 bn debt but have not yet succeeded to agree on specific meetings. 12 256 91 Previously in trend: Ukraine’s agreement with creditors
Russia ready to full-fledged talks with Ukraine on "Yanukovych's debt", Russian finance minister says Russia's Finance Ministry confirms its readiness to full-fledged and good-faith negotiations with Ukraine and expects to recover tribunal expenses associated with filing of the claim in the International Court of Justice. 27 261 257
Arbitration court to determine eligibility of Gazprom claims, - Naftohaz Naftohaz of Ukraine considers the "take or pay" provision to be not market based, invalid and inapplicable as set out in the gas supply contract with the Russian Gazprom. 24 753 88
"No money for you, bastards," - Interior Minister Avakov on Russia's announcement of Ukraine's default Interior Minister of Ukraine Arsen Avakov commented on Russian authorities' statements regarding Ukraine's default caused by non-payment of the $3,075 billion accepted by fugitive president Viktor Yanukovych from the Kremlin. 156 005 495
"We are fully prepared to court action with Russia," - PM Yatseniuk The moratorium on the payment of "Yanukovych debt" will be in force as long as the Russian Federation does not accept the conditions, under which the majority of debt holders have restructured debts owed by Ukraine. 6 570 52
Yatseniuk introduced bill on Ukraine's refusal to pay Putin's grants to Yanukovych The Cabinet proposes the Verkhovna Rada to abolish the deadline for the suspension of payments on Ukraine's external obligations. 38 480 273
Russia's PM says Ukraine won't repay debt, orders legal action Russia must force Ukraine to repay the loan in full, taking into account all penalties. Deputy prime ministers have been instructed to hire lawyers and prepare legal action to recover the debt from Kyiv. 122 254 757
Russia refused to discuss debt restructuring with Ukraine, - Government Commissioner Lisovenko Russia did not put forward any counter offer on restructuring a $3-billion Eurobond after the rejection of Ukraine's proposal in the framework of debt operations. 12 625 76
Yatseniuk explained moratorium on "Yanukovych's debt" repayment A $3.5 billion loan granted by Russia to the fugitive president Yanukovych was nothing but a political bribe to ensure Ukraine had neither a visa-free regime nor the free trade zone with the EU. 52 378 240
Ukraine freezes payment of "Yanukovych debt" and debt of two Ukrainian corporations to Russia Ukraine imposes moratorium on payment of funds borrowed during Yanukovych presidency from the Russian Federation. 66 158 525
Russia continues demanding Ukraine's full payment of $3-billion 'Yanukovych' debt Russia's position on Ukraine's $3 billion debt to Russia remains unchanged - Kyiv must pay it off or face a court case. 18 037 232
Russia made no offers on "Yanukovych debt", - Finance Minister Jaresko The Ministry of Finance has not yet received offers from the Russian side on the restructuring of the Ukrainian debt in the amount of $3 billion. 5 723 51
Russia ready to restructure Ukraine's loan with guarantees, - Russian Finance Minister Siluanov Russia has agreed to restructure Ukraine's loan issued to the Yanukovych regime back in 2013, if guaranteed by a large bank. 19 667 180
Russia agrees to restructure Ukraine’s debt, - Putin Russia has agreed to restructure the debt of Ukraine and discuss the details of this offer in the near future. 204 481 1 373
Ukraine may introduce moratorium on paying $3 bln debt to Russia, - Yatseniuk Ukraine may introduce a moratorium on the payment of a $3 bln debt to Russia, if the Russian authorities do not agree to a restructuring. 19 456 221
Final step towards Ukraine's debt restructuring made, - Minister Jaresko The government has approved the issue terms for new bonds which will be given to our sovereign creditors in exchange for the previous ones. 46 931 219
Fitch downgrades Kyiv rating to default Fitch Ratings has downgraded the Ukrainian City of Kyiv's Long-term foreign currency Issuer Default Rating (IDR) to 'D' (Default) from 'C'. 42 381 211 Previously in trend: Ukraine’s agreement with creditors
IMF urges Ukraine and Russia to talk on debt restructurization The International Monetary Fund on Thursday urged Russia and Ukraine to discuss restructuring a $3 billion debt. 13 492 125
"Diamond" prosecutor Korniiets borrowed $700,000 as public employee. DOCUMENT (in Ukrainian) Infamous ex-deputy prosecutor of the Kyiv region Oleksandr Korniiets has run into huge debts at odds with his official salary. 42 808 78 Previously in trend: 'Diamond prosecutors' case
Russia wants to ruin Ukraine and hold a veto over efforts to rescue it, - Financial Times The West should resist Russia’s blackmail over Ukraine’s debt. 71 970 367 Previously in trend: Russian aggression against Ukraine
Putin proposes IMF to allocate additional $3 billion for Ukraine to clear "Yanukovych’s loan" Russian President Vladimir Putin instructed the Minister of Finance Anton Siluanov to discuss with the IMF the allocation of additional aid to Ukraine to pay off $3 billion, which fugitive ex-President Viktor Yanukovych received from Russia. 66 807 653
Russia and Ukraine fail to agree on Kyiv’s debt restructuring Russian, Ukrainian finance ministers fail to agree on Kyiv’s $3 billion debt restructuring. 59 837 640
In case of trial, Russia to seek Ukraine's full repayment of loan, - Russian Finance Minister Siluanov Russia intends to insist on Ukraine's full repayment of $3 bln loan, should the case be taken to court. 42 383 613
Verkhovna Rada approved Ukraine's external debt restructuring Verkhovna Rada MPs supported draft amendments to the state budget of Ukraine on restructuring country's external debt owed to private creditors. 22 329 155
Russia has not agreed to debt restructuring, but it will get no other conditions, - PM Yatseniuk The agreement of private creditors for debt restructuring has been approved by the global community, except for Russia. 40 988 263
Russia to sue Ukraine, reluctant to discuss debt restructurization Russia does not intend to start negotiations with Ukraine on restructurization of its $3 billion loan, insisting on full settlement in due time. 38 140 325
$3.8 billion of Ukraine's $19,3-billion state debt to be written off, - Finance Minister Jaresko. DOCUMENT Finance Minister of Ukraine Natalie Jaresko announced that Ukraine has agreed on writing off $3.8 billion of its $19.3-billion state debt. 65 188 372
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