Ukraine on brink of default

"Zelensky has signed a law allowing Kiev to suspend debt payments to Western creditors for

two months...Ukraine announced a preliminary deal with a committee of its main bondholders to restructure the country’s near-$20 billion worth of international debt. The proposal specified a 37% nominal haircut on the nation’s outstanding international bonds, saving Kiev $11.4 billion in payments over the next three years. Ukraine will issue new Eurobonds in return." RT