REUTERS
The Verkhovna Rada, Ukraine's parliament, has secured the constitutional majority to give the green light to a package of bills drafted by the Ukrainian government on the restructuring of Ukraine's sovereign debt, the terms of which were agreed with foreign creditors in late August 2015.
The package includes four bills, each of which was backed by 300 votes with 226 required for a bill to be passed, according to an UNIAN correspondent.
As UNIAN reported earlier, Ukraine and the ad hoc creditors' committee on August 27 agreed on restructuring part of sovereign debt to the tune of $18 billion. The restructuring involves a complete write-off of $4 billion, a four-year deferral of principal debt repayment, as well as the establishment of a single 7.75% interest rate for the bonds.