Reuters reported on the first default on Ukraine's debt

The Ministry of Finance of Ukraine will not pay holders of its GDP warrants (a government security where payments are linked to GDP growth. — Ed.) about $665 million, which will be the first default on payments since the creation of these instruments. This was announced on Friday, May 30, according to the Reuters news agency.

"Last year, the Parliament of Ukraine approved a moratorium on payments on securities linked to GDP," the agency said in a statement.

The country's total debt to the holders of securities is about $3.2 billion.

Earlier, on April 24, FT learned about Ukraine's possible default. The country has failed to reach an agreement with investors on the restructuring of $2.6 billion in debt, and Kiev may default. It is noted that this situation has undermined the hope of the Ukrainian side to carry out restructuring before the payment deadline — in May, the state must pay $ 600 million on securities linked to GDP.