Ukraine is starting to consider a shift away from the U.S. dollar, possibly linking its currency more closely to the euro amid the splintering of global trade and its growing ties to Europe, Central Bank Governor Andriy Pyshnyi told Reuters.

Ukraine said Thursday that it failed to strike a deal to restructure $2.6 billion of debt securities, heightening its risk of default, WSJ Pro Bankruptcy reported. Ukraine’s finance ministry said it didn’t accept a proposal from a group of investors holding warrants linked to the country’s gross domestic product ahead of a payment due around the end of May. Ukraine intends to continue to engage with warrant holders and consider all available restructuring options, the finance ministry said.

Ukraine’s debt-management chief cautioned investors against betting on a quick and tidy resolution to the conflict with Russia based on Donald Trump’s return to the White House next week, Bloomberg News reported. “If you look at our yield curve, people expect some quick, positive outcomes,” Yuriy Butsa, Ukraine’s government commissioner for public debt management, said on the sidelines of the Invisso CEE Forum in Vienna on Tuesday.

The Biden administration transferred $20 billion to Ukraine on Tuesday, providing an urgently needed economic lifeline in the form of a loan that will be repaid using interest earned from Russia’s frozen central bank assets, the New York Times reported. The transfer of the funds comes as Ukraine is facing a period of grave uncertainty with President-elect Donald J. Trump poised to take office next month and Russia’s war continuing unabated. Mr.

The Biden administration told Congress it plans to cancel $4.65 billion in debt owed by Ukraine, according to a letter obtained by Bloomberg News, the latest in a series of moves meant to bolster support for Kyiv before President-elect Donald Trump takes office, Bloomberg News reported. The White House will cancel half of a $9 billion loan delivered to Ukraine as part of a $60 billion supplemental package approved in April.

The International Monetary Fund began its latest assessment of its loan program with Ukraine, even as Kyiv delays passing tax legislation as the lender expects, Bloomberg News reported. The Washington-based lender sent its staff to the Ukrainian capital for talks that may open a path for another $1.1 billion tranche under the four-year initiative, according to a statement from Ukraine’s Finance Ministry published Monday.

The European Union’s top official said on a trip to Kyiv on Friday that Europe would offer Ukraine a loan of 35 billion euros, about $39 billion, backed by frozen Russian assets, the New York Times reported. European leaders said the loan would move forward initially without contributions from the United States, after talks between American and European officials stalled in recent days. The official, Ursula von der Leyen, president of the European Commission, met with President Volodymyr Zelensky of Ukraine to reiterate Europe’s continued support for his country.