this post was submitted on 24 Apr 2025
58 points (90.3% liked)

World News

46063 readers
2841 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 2 years ago
MODERATORS
 

Ukraine said on Thursday that it had failed to reach a deal with holders of $2.6bn of its debt, in a blow to its hopes of securing a restructuring ahead of a payment deadline next month.

The country’s finance ministry said it would “consider all available options” and continue negotiations after the failure of opening talks in Washington this week with holders of its so-called GDP warrants.

Last month the IMF said that “if left untreated” the warrants “constitute an important risk” for the stability of an ongoing $15.5bn bailout and Kyiv’s restructuring of more than $20bn in bonds last year.

“The GDP warrants were designed for a world that no longer exists,” said Ukraine’s finance ministry on Thursday. “Ukraine’s modest economic growth in 2023 was not a sign of surging prosperity but a fragile rebound from a nearly 30 per cent downturn caused by Russia’s full-scale invasion.”

Archive link

top 6 comments
sorted by: hot top controversial new old
[–] gonzo-rand19@moist.catsweat.com 10 points 12 hours ago (1 children)

“The GDP warrants were designed for a world that no longer exists,” said Ukraine’s finance ministry on Thursday.

While that's true, unfortunately you still issued them and powerful people hold them. Billionaires, with or without the IMF, will gleefully wring every dollar from your bones if they have to.

The "investors" even say in the article that if they can't pay the $2.6B soon they'll have to pay $6.6B later, so it should be a simple decision for Ukraine. Yes... a simple decision to put your people into poverty for the horrible crime of being invaded.

As we all know, nothing bad has ever happened when a country has an exorbitant debt after the conclusion of a years-long military conflict. So everything will be swell after Ukraine gives away nearly $3B instead of rebuilding the country.

[–] Zaktor@sopuli.xyz 1 points 5 hours ago

"Have to" assumes the consequences of not doing it are worse than doing it. Sometimes it's better to just walk away from a loan and accept the consequences. Yeah, maybe Ukraine will be screwed in the process, but that doesn't get them their billions back.

[–] technocrit@lemmy.dbzer0.com 19 points 14 hours ago* (last edited 14 hours ago) (1 children)

Ofc FT is calling these debt/war profiteers "investors"... How much can they leech out of ukraine under the gun?

Capitalist propaganda is so normalized that it's most often not even mentioned.

[–] Zaktor@sopuli.xyz 3 points 5 hours ago

I agree, but it actually kind of makes a worse case for them. Sometimes investments don't work out. Sometimes loans are defaulted on too, but we have a much greater expectation that loans should be repaid.

If these people "invested" in 2023 expecting a certain level of growth and now we're in 2025 and the growth wasn't maintained, that's their fault for making a bad prediction with their "investment".

[–] Skiluros@sh.itjust.works 8 points 12 hours ago (1 children)

Perhaps this is cope on my part, but I believe we have leverage in this situation.

As the saying goes:

If you owe the bank $100K, that's your problem. If you owe the bank $100M, that's the bank's problem.

[–] AnotherFuckingCoder@lemm.ee 4 points 11 hours ago

I do wonder if it works really like this