Poroshenko Signs Set of Laws on Government Debt Restructuring

© Sputnik / Mikhail Palinchak / Go to the photo bankUkrainian President Petro Poroshenko during a session of the Verkhovna Rada of Ukraine
Ukrainian President Petro Poroshenko during a session of the Verkhovna Rada of Ukraine - Sputnik International
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Ukrainian President Petro Poroshenko signed on Friday a set of laws required for government debt restructuring, the country's parliament, Verkhovna Rada, said.

KIEV, (Sputnik) — The Ukrainian parliament on Thursday approved a debt restructuring plan envisaging rules for income taxation of external debt borrowers, emission of a new type of securities, and a law determining priority of debt restructuring.

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In late August, Kiev and its international creditors agreed to write off 20 percent, or $3.6 billion out of $18-billion Ukraine's international debt.

Since the armed conflict between government forces and militia started in the country's southeast in April 2014, Ukraine’s national currency, the hryvnia, has drastically devalued, while the country’s gross domestic product has been continuously decreasing.

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