Does Ukraine have a default? Kyiv will not pay $ 665 million to the GDP for GDP-Bloomberg.
It was not possible to negotiate with the creditors, so the payment was canceled.
This is considered a technical defaulthowever, I explain why you should not panic:
▪️It was an expected step. Investors knew that Ukraine could not pay – it's not a shock.
▪️Cross-Defolt mechanism is off. This protects the country from the “chain reaction” of defaults.
▪️Ukraine continues to receive international assistance. Including IMF support, the EU, the USA, without it, everything would look worse.
▪️The markets have not fallen. The reaction was restrained, therefore, trust in the country remains.
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