On December 3, the Verkhovna Rada of Ukraine adopted draft law No. 12232 amending the Budget Code regarding state debt obligations. According to the data of the document card, the law was considered as urgent. About this reported People’s Deputy Yaroslav Zheleznyak.
“The right is granted to the Debt Agency to carry out transactions with conditional obligations within the framework of agreements with the EU, foreign countries, MFIs, the return of funds for which will be made not at the expense of the state budget, but in particular at the expense of frozen assets of the Russian Federation”, – he said.
The head of the budget committee, Roksolana Pidlas, added that this law is key for the integration of the new mechanism into Ukrainian legislation, in particular for obtaining a $50 billion loan from the G7 countries and the European Union. The law introduces a new concept – “conditional debt obligations”.
The “irrevocable loan” of $50 billion from the “Big Seven” countries and the EU is just such conditional debt obligations, because Ukraine will not repay this loan until then and if it does not receive reparations from Russia. This money will also not be counted as the state debt of Ukraine (which is very helpful in the conditions when the state debt will exceed 100% of GDP this year).” – she emphasized.
