No lawsuits have been filed yet. No separate round of consultations on the updated terms of restructuring the state debt under GDP warrants after the default has been held. The Ministry of Finance is currently limited to “continuous dialogue” with the creditors’ committee and individual investors. This was reported by the Ministry of Finance, responding to a request from the EP.
The Ministry of Finance recalled that the only round of closed negotiations took place on April 15-23 of this year and ended without reaching an agreement. There are no clear deadlines for completing the restructuring of this debt, but current efforts are aimed at reaching an agreement by the end of 2025, the ministry noted. The Ministry of Finance has not yet registered any lawsuits from warrant holders due to the missed payment this year. The main goal is to reduce the debt burden without harming post-war recovery.
Recall that preliminary negotiations lasted from April 15 to 23 with a committee of investors who collectively own 30% of GDP warrants. Although the restructuring of warrants requires the consent of 75% of owners. However, the Ministry of Finance itself owns about 20% of warrants. The Ministry of Finance proposed several options for solving the problem.
