Recent statements by the European Union (EU) and the International Monetary Fund (IMF) give the impression that Ukraine is making significant steps toward stabilisation and normalisation. There has been much praise for the administration of Petro Poroshenko, especially for the nationalisation of the heavily indebted PrivatBank, and recognition that reforms such as this will be sufficient to unlock the next $1.7 billion tranche of IMF assistance from its $17.5 billion rescue-fund.
If one were to only look at macro-economic indicators, Ukraine appears to have made some progress. After a fall in real GDP of over 15 per cent, since the …read more
Source: Emerging Europe