G7 countries have agreed to defer payments on loans granted to Ukraine until 2027, when the current IMF program ends
This was stated by the Ministry of Finance of Canada, Ukrinform reports.
It is noted that representatives of all G7 member states met on March 23 and agreed on a common position on the Ukrainian national debt.
"The provision of financing assurances by the GCU entails an extension of the standstill from 1 August 2022 over the period of the IMF programme (2023-2027), in accordance with the national legislation of the creditor states," the statement said.
After stabilization of the economic situation in Ukraine or until the end of the IMF program, the creditor states will take additional steps to ease the credit burden on Ukraine.
"The GCU will grant a debt treatment consistent with the parameters of the IMF programme, provided that private external creditors deliver a debt treatment at least as favourable," the Canadian Ministry of Finance added.
In addition, the members of the Group of Creditors called on other bilateral creditors to "swiftly reach an agreement with Ukraine on a debt treatment at least as favourable."
On February 22, the IMF announced its readiness to provide significant economic support to Ukraine under a new full-fledged loan program.
On February 23, Bloomberg reported, citing its sources, that the G7 countries would help Ukraine obtain a USD 16 billion loan from the IMF.
On March 7, on the eve of the start of the negotiation mission on extended financing, Ukraine’s Prime Minister Shmyhal discussed the new financing program with the director of the IMF's European Department.
On March 21, Ukraine and the IMF agreed on a four-year financing program amouting to more than USD 15 billion.