LONDON (Reuters) -Ukraine's finance ministry said on Friday it would not be paying more than half a billion dollars due to holders of its GDP warrants, marking the first payment default since it
Ukraine to default on payment to GDP warrant holders
LONDON (Reuters) -Ukraine's finance ministry said on Friday it would not be paying more than half a billion dollars due to holders of its GDP warrants, marking the first payment default since it created the instruments.
The war-ravaged country said it owes $665 million on June 2 to holders of the $3.2 billion worth of warrants, based on 2023 economic performance.
Last year, Ukraine's parliament approved a payment moratorium on the GDP-linked securities from May 31.
(Reporting By Libby George, Marc Jones and Olena Harmash; Editing by Hugh Lawson)
