KIEV (Reuters) - Ukraine’s finance minister said a “win-win” deal for restructuring $18 billion of debt had been agreed with a group of its largest creditors.
The minister, Natalia Yaresko, said late on Wednesday in comments embargoed until Thursday that the deal involved a 20 percent writedown on the principal and met all targets set by an International Monetary Fund bailout program.
“Everyone’s done well out of this deal. That’s why it’s collaborative. It’s not one side winning, it’s a win-win situation. We’re all now moving forward without putting the value of the bonds at any further risk, she said.
Reporting by Alessandra Prentice and Natalia Zinets; Editing by Richard Balmforth