Ukraine secures debt write-off deal, Russia refuses to accept terms

Kiev has announced its largest private creditors have agreed to write-off 20 percent of $18 billion of debt, as well as to extend the maturity by four years on the remaining money owed, The Telegraph reports. Moscow promptly announced it would not agree to the terms of the debt write-down. Ukraine owes Russia $3 billion, which is due by the end of the year. As part of an IMF bailout deal, Ukraine is required to obtain relief on some of its $72 billion of total debt.


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