Financial sector news

Ukraine has successfully completed the restructuring of GDP warrants, avoiding the risk of multi-billion dollar currency payments

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Last week, Ukraine announced the successful completion and settlement of the restructuring of government derivatives linked to GDP (GDP warrants), which was supported by 99.06% of investors.

According to estimates by the Ministry of Finance, without this restructuring, payments on GDP warrants in 2025–2041 could reach between $6 billion and $20 billion, depending on economic growth rates. The agreement reached contributes to the achievement of Ukraine's debt targets under the IMF program and meets the expectations of Ukraine's official creditor group.

"Under the terms of the restructuring, GDP warrants worth $2.64 billion were exchanged for new Series C bonds maturing in 2032 for a total amount of $3.5 billion, as well as Series B bonds maturing in 2030 and 2034 for $16.9 million each. All GDP warrants were canceled," the Ministry of Finance said.

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The mission of the Association of Ukrainian Banks is to support the development of the national banking system. The AUB cooperates with the Verkhovna Rada of Ukraine on improving the legislation governing banking activities, and interacts with the National Bank of Ukraine on regulatory support for the functioning of banks and non-bank financial institutions. The CBA takes care of the professional development of bank employees, expands international relations with associations and banking institutions of other countries.

 

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