Press Releases

Statement of the Group of Creditors of Ukraine

The Group of Creditors of Ukraine (GCU) welcomes the agreement in principle reached between Ukraine and its bondholders (ad hoc creditor committee) on Eurobond Debt Restructuring Terms.

The Group confirms it is comfortable with the agreement that has been confirmed by the IMF staff as compatible with the debt sustainability objectives of Ukraine's Extended Fund Facility ("EFF"), under the baseline macroeconomic framework of the fourth review dated 28 June 2024, taking into consideration the authorities' overall restructuring strategy. It states that the comparability of treatment principle will have to be respected once the Group restructures its debt in 2027.

The Group notes the exchange offer released today by Ukraine to implement that agreement and encourages bondholders to consent to this request in a swift manner.

Swift implementation of the exchange would demonstrate substantive support for the government and people of Ukraine by providing substantial debt relief.

The Group will continue to coordinate closely and assess the situation with the support of the IMF and the World Bank.

Background note: The Group of Creditors of Ukraine includes Canada, France, Germany, Japan, United Kingdom, and the United States of America. Observers to the Group include Australia, Austria, Belgium, Brazil, Denmark, Finland, Ireland, Israel, Italy, Korea, the Netherlands, Norway, Spain, Sweden, and Switzerland. 

###