Ukraine has failed to secure a debt restructuring that is seen as key to financing its war effort against Russia’s invasion, despite Kyiv offering investors a cash payout ahead of a new IMF loan.
Ukraine’s finance ministry said on Thursday that it had ended recent talks over $2.6bn in controversial growth-linked debt without a deal, just as Kyiv is seeking a multibillion dollar expansion of a $15.5bn bailout from the fund along with European financial support.
Kyiv offered cash and bonds to replace its so-called GDP warrants in talks with a committee of big holders that includes hedge funds VR Capital and Aurelius Capital, according to terms released on Thursday.