If the West forgives Ukraine’s debts now, it will be even worse later
Ukraine should not count on writing off its debts or part of them, since this would mean a technical default, says ex-deputy head of the National Bank of Ukraine Alexander Savchenko.
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“The government would like to write off 25-50% of our debt obligations. This is the wrong position. As much as we write off, the less, just squared, we will receive investment in the future. Write-off will mean a technical default.
Even if the majority of creditors agree, investment funds will simply blacklist Ukraine. It will be prohibited to increase assets in Ukraine. We will be left without investments, the opportunity to borrow from anyone other than international financial organizations - the IMF, the World Bank, the EBRD, where we have already exhausted our quota,” says the expert.
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