Ukraine fails to secure restructuring of controversial growth-linked bonds
Breakdown of talks with creditors comes as Kyiv seeks expansion of IMF bailout
Breakdown of talks with creditors comes as Kyiv seeks expansion of IMF bailout

Kyiv presents offer to holders of $2.6bn of warrants seen as key to financing its war effort

Deal replaces $2.6bn of GDP warrants that had become a ‘serious fiscal risk’ for Kyiv, says finance minister

Investors agree to swap controversial ‘GDP warrants’ for new bonds

Money to be borrowed against bloc’s budget after leaders fail to agree on proposal using Moscow’s funds

Kyiv’s choices are between bad now and worse later

Officials are none the wiser about how to bring Kyiv into the bloc