“Ukraine on Monday, June 2, is guilty of $ 665 million. owners of warrants worth $ 3.2 billion.” – informs Reuters.
The Ministry of Finance of Ukraine has already announced on Friday that it will not repay this money due to the owners of GDP warrants, which – as Reuters emphasizes – is first failure to comply with the payment since the introduction of these instruments.
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“Warrant GDP” is a financial instrument associated with gross domestic product (GDP). The most common in the context of the restructuring of state debt, e.g. as it was in Argentina or Greece. It gives his holder the right to receive additional payments if the GDP of a given country increases above a certain level.
“Ukraine remains involved in the implementation of comprehensive, fair and fair restructuring of securities related to GDP” – we read in a statement of Ukrainian authorities. They indicated that they are aware that they must follow the goals regarding the debt specified in the IMF program and in accordance with the principle of comparative treatment with official lenders.
Advisors and legal representatives of warrant owners did not comment on this matter right away.
The economy of Ukraine collapsed after Russia's full invasion in 2022, shrinking by nearly 30 percent. Although in the years 2023 and 2024 the economy recorded a slight increase, its gross domestic product remains below the level before the war.
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Minister of Finance Serhia Marchenko described Warrants, whose payment is associated with economic growth as “intended for a world that no longer exists”.
Reuters reminds that Formal restructuring talks between Ukraine and the owners of warranty ended in failure at the end of Apriland the parties were far from the agreement. The main debt negotiator of Jurij Bossa met privately with individual owners of warranty in London at the beginning of this month to prepare them for a lack of repayment and emphasize that Ukraine prefers to devote time to obtaining an appropriate agreement than hastily conclude a quick contract before the deadline.
