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The Collapse Of The Hryvnia: Five Reasons Why Ukraine Is Becoming Europe’s Zimbabwe
As the Ukrainian National Bank introduces new capital controls, this time for businesses, and raises interest rates, the country’s economy slides into Zimbabwe-grade hyperinflation, as measured by the Cato Institute. There are five main reasons why. By Sputnik News A recent Cato Institute study cited in a Washington Post blog claims that Ukraine’s inflation rate is … Continue reading
Ukraine Is Russia In 1998 – OpEd
By Ben Aris BNE Russia’s economic situation looks nothing like its 1998 crisis, but today’s Ukrainian economy bears a striking resemblance to that of Russia in the run-up to its last big collapse on August 17, 1998. Below is a table comparing some of the numbers. The comparison has been made more difficult by the … Continue reading
Ruble Crunch Hits Russia’s Neighbors Hard
By Charles Recknagel As the value of Russia’s ruble tumbles amid low oil global prices and Western sanctions, it is taking the currencies of many former Soviet republics down with it. Just ask Gagik Ghazaryan, an exporter in Armenia. He used to be able to sell soft drinks and canned food profitably to Russia before … Continue reading
Ukraine Will Default Without Donor Conference, PM Says
By BNE IntelliNews Ukraine will default without a donor conference, Prime Minister Arseny Yatsenyuk told parliament on December 11. “To avoid a default, we need an international donor conference,” Yatsenyuk told deputies. “For next year, in addition to this programme from the International Monetary Fund (IMF) – this is what the Financial Times writes, not what we say – we … Continue reading
Ukrainian Economy Minister Admits Country Is ‘Bankrupt’
Ukraine is ‘in fact bankrupt’ says the new Minister of Economic Development and Trade Aivaras Abromavichus. He advises that the government shouldn’t interfere in how businesses are run if it wants to get the economy out of trouble. “Businessmen ask for one thing – they do not ask the government for help, they ask it … Continue reading
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