The War Breaks The Spine of Ukraine’s Economy
Ukraine was already limping along, but the Russia-backed separatist rebellion in the east has crippled its economy
By Maxim Eristavi
What you need to know:
- Ukraine’s hryvnia is in freefall, now the second-worst performing currency in the world
- Ukrainian economy is in the middle of a two year-long recession that is expected to deepen later this year
- Ukraine was already limping along, but the Russia-backed separatist rebellion in the east has crippled its economy. The country struggles to afford paying its war bills
In Kyiv, barely a day passes by without hearing of someone being laid off or getting their paycheck cut. Usual traffic jams have almost vanished, and on Saturday nights bars and restaurants are half-empty.
Post-revolutionary Kyiv
It’s easy to spot the frustration of locals as they pass by currency exchange offices: the hryvnia is in free fall, having plunged to record 40 percent against the U.S. dollar this year. It’s now the second-worst performing currency in the world—even than the Syrian pound is doing better.
Complete story at - The war breaks the spine of Ukraine’s economy — Medium
Ukraine was already limping along, but the Russia-backed separatist rebellion in the east has crippled its economy
By Maxim Eristavi
What you need to know:
- Ukraine’s hryvnia is in freefall, now the second-worst performing currency in the world
- Ukrainian economy is in the middle of a two year-long recession that is expected to deepen later this year
- Ukraine was already limping along, but the Russia-backed separatist rebellion in the east has crippled its economy. The country struggles to afford paying its war bills
In Kyiv, barely a day passes by without hearing of someone being laid off or getting their paycheck cut. Usual traffic jams have almost vanished, and on Saturday nights bars and restaurants are half-empty.
Post-revolutionary Kyiv
It’s easy to spot the frustration of locals as they pass by currency exchange offices: the hryvnia is in free fall, having plunged to record 40 percent against the U.S. dollar this year. It’s now the second-worst performing currency in the world—even than the Syrian pound is doing better.
Complete story at - The war breaks the spine of Ukraine’s economy — Medium
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