The Biden administration has informed Congress of plans to cancel $4.65 billion of Ukraine's debt, according to a letter obtained by Bloomberg News. This move forgives half of a $9 billion loan provided as part of a $60 billion aid package approved in April. The loan concept was initially proposed by Donald Trump during his campaign and later incorporated into the legislation by House Republican leaders. The decision aligns with previous White House signals that partial debt forgiveness was expected. The measure aims to bolster support for Ukraine as it faces ongoing challenges. Continue here.
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