Creditors to Ukraine grant suspension of debt service through 2023

The group of official creditors to Ukraine—which is made up of several countries including the United States—issued a joint statement today agreeing to a coordinated suspension of debt service through the end of 2023, as the country continues to defend itself against the Russian invasion. The group said it would also consider the possibility of deferral for an additional year beyond 2023.

The group agreed to grant Ukraine’s request for deferral given the “exceptional circumstances, and acknowledging Ukraine’s exemplary track record of honoring debt service to date,” and encouraged other bilateral creditors to take similar action. “We will continue to closely coordinate and assess the situation with the support of the IMF and the World Bank,” the group added in its statement.