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Explainer-Ukraine pushes for debt freeze to dodge hard default

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Reuters UK

By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) – Ukraine has asked its creditors for a two year payment freeze on its international bonds in a bid to focus its dwindling financial resources on repelling Russia. Creditors have until Aug. 9 to vote on the proposal. Ukraine has called its plan a liability management exercise, indicating Kyiv’s efforts to spare bondholders a writedown on the bonds. Official creditors have already said they would suspend payments owed to them and urged bondholders to accept the country’s request for the freeze. The group, including Canada, France, Ge…

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