NEW YORK - Ukraine has suffered a setback in its quest to complete the outline of a debt restructuring before the end-of-August expiry of a two-year payment freeze agreed by private holders of near $20 billion in outstanding international bonds.
August - Ukraine's overseas private creditors back the country's request for a two-year freeze on payments on almost $20 billion in international bonds. Global rating agencies S&P and Fitch consider the exchange"distressed," triggering a short-lived downgrade to default. The country now owes nearly $24 billion on those bonds, including interest.
April - A sweeping foreign aid package passes in the U.S. Congress after months of delay, clearing the way for $61 billion in funding for Ukraine.
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