Ukraine is struggling to reach an agreement with bondholders to restructure around $20 billion of debt, with talks ongoing to avoid default before the August deadline following the suspension of payments post-Russia's 2022 invasion. The country's dollar-denominated eurobonds have faced significant declines and are trading at distressed levels. Despite the disparities between Ukraine's proposal and bondholders' counter proposal, both sides aim to continue discussions to find common ground, critical for Ukraine's economic stability and IMF requirements.