GDP is still shrinking. Gas payments, defence and support for the hryvnia, which lost half its value in 2014, have bled the government dry. Foreign-currency reserves fell by a quarter in December, leaving just $7.5 billion, equivalent to only five weeks’ worth of import cover. The war in the east eats up $10m a day, according to Ukraine’s president, Petro Poroshenko. Ukraine’s debt-to-GDP ratio exceeds 60%. Read more >>>
Economist
Economist
