Ukraine’s economy is in crisis. Experts warn that the country’s gross domestic product could shrink by 6 to 12 percent and inflation could exceed 40 percent in 2015, although one prominent economist put that figure in triple digits already. The war in eastern Ukraine has throttled the country’s industrial capacity. To prevent the country from default, the International Monetary Fund (IMF) stepped in with a $40 billion international rescue package in March.As the government of Ukraine and the IMF inked the deal, Moody’s Investors Service and the Standard & Poors rating agency downgraded Ukraine’s credit rating. The bad marks signal …read more
Source: Atlantic Council