The Group of Creditors of Ukraine (GCU) has expressed approval for the agreement in principle reached between Ukraine and its bondholders on Eurobond debt restructuring terms.
The GCU confirmed that it is satisfied with the agreement, which has been verified by IMF staff as aligning with the debt sustainability objectives of Ukraine's Extended Fund Facility (EFF). This assessment was based on the baseline macroeconomic framework outlined in the fourth review dated June 28, 2024, considering the authorities' overall restructuring strategy. The group emphasized that the comparability of treatment principle must be upheld when it restructures its debt in 2027.
The GCU acknowledged today's exchange offer released by Ukraine to implement this agreement and urged bondholders to consent promptly. The swift implementation of this exchange would provide significant debt relief and demonstrate strong support for the government and people of Ukraine.
The GCU will continue close coordination and assessment of the situation with support from both the IMF and World Bank.
Background: The Group of Creditors of Ukraine includes Canada, France, Germany, Japan, United Kingdom, and United States. Observers include Australia, Austria, Belgium, Brazil, Denmark, Finland, Ireland, Israel, Italy, Korea, Netherlands, Norway, Spain, Sweden, and Switzerland.
