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Bondholders to Push Ukraine to Resume Debt Payments After Hiatus (www.wsj.com)

submitted 3 months ago by [email protected] to c/[email protected]

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A group of foreign holders of Ukrainian Eurobonds intends to seek from Kiev the resumption of interest payments on government debt as early as 2025. This is according to WSJ citing informed sources.

The creditors' committee includes BlackRock and Pimco, which account for about 20% of Ukraine's outstanding $20 billion Eurobonds.

According to the bondholders, Ukraine, which received $60.6 billion in aid from the United States , could agree to forgive part of the debt in exchange for the resumption of interest payments of up to $500 million a year. Some creditors have already discussed these plans with Ukrainian authorities. Kiev hopes to involve Washington and other allies in the work.

However, the United States and its partners are concerned that bailouts for Ukraine will end up with bondholders if Kyiv starts servicing its debt again. Countries have granted debt holidays of about $4 billion until 2027.

If the deal is not concluded, Ukraine may face default in August after the expiration of the holiday for bondholders. This will make it difficult for it to continue to attract loans on the market.

Initially, creditors agreed to a two-year deferment, believing that the conflict would end by 2024. Despite the protracted nature of the situation, they hope for the stabilization of Ukraine’s finances thanks to the support of the West. 🤡

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[–] [email protected] 1 points 3 months ago (1 children)

would seal the republican victory.

Which would change what, exactly? They talk tough, sure, threatening to cut off aid and all, but at the end of the day, they're still owned by the same class. The same subclass even - financial capital

[–] [email protected] 1 points 3 months ago

Financial capitalists aren't monolith. US is sort of in a middle of a civil war right now within the capitalist class, and there isn't a unified front on any issue. Neocons represent the hegemonic faction who think that US can dominate the whole world through force. They bit off more than they can chew in Ukraine, and now a more moderate faction is likely to get into power. It's also worth noting that even between neocons there's a split. A lot of them think Russia as a side show, and see China is the real adversary. It looks like Trump faction is aligned with that line of thinking, and this would be the main reason they'd wind the proxy war down.

My expectation is that once Trump gets into power, US will find a way to stop the war. Then they're going to focus on trying to stabilize their economy by cannibalizing Europe and escalate the trade war with China. There's also the whole thing with Gaza that still has potential to spill over into a regional conflict.