I long argued last year against an early Eurobond debt restructuring in Ukraine and that it made more sense to extend the debt moratorium until the end of the war when macro assumptions would be clearer.
Really sharp analysis here — you nailed the key challenge of balancing debt relief timing with Ukraine’s financing and war dynamics. Extending the debt moratorium until there’s more clarity on the war’s trajectory seems pragmatic given the huge uncertainty and risks of restructuring prematurely.
Really sharp analysis here — you nailed the key challenge of balancing debt relief timing with Ukraine’s financing and war dynamics. Extending the debt moratorium until there’s more clarity on the war’s trajectory seems pragmatic given the huge uncertainty and risks of restructuring prematurely.