Ukraine’s lenders – both government lenders and private creditors that include BlackRock and Infidelity International – have agreed to suspend Ukraine’s repayments until the end of 2023.
This breakthrough shows how campaigning can help to convert the unthinkable into the inevitable. The Ukrainian government and its western allies had previously insisted that Ukraine would pay its debts, and repayments to bondholders have continued throughout the invasion. Only last week the IMF insisted that it expected Ukraine to continue to pay.
As campaigners, this shows us that a swift and effective response to debt crisis is possible. Debt repayments should never undermine the ability of a government to deliver the basic needs of its population. But there are still over 50 countries that are in a debt crisis, that also need swift and urgent debt cancellation.
Will you help us to build on this success and support our campaigns in solidarity with affected people and win debt cancellation for the countries that need it?