CNN: Ukraine's economy teeters towards collapse
Ukraine is on the brink of economic collapse.
Its central bank raised benchmark interest rates from 19.5% to 30% effective Wednesday. Ukraine's currency, the hryvnia, lost nearly 70% of its value against the dollar in just a year. The GDP shrunk by 7% in 2014.
And while the war-torn country secured $40 billion international bailout package in February, the chances of a swift recovery are small.
WNU Editor: The news keeps on getting worse .... Ukraine’s fourth largest lender Delta Bank insolvent – national bank (RT). mind you .... in eastern Ukraine the situation is an utter disaster .... Ukraine Economy Crisis: Rebels Reportedly Open Donetsk Banks Amid Economic Collapse, Growing Black Market For Cash (IBTimes). On the flip side .... some businesses in Ukraine are booming .... Demand for Bodyguards Skyrockets in Crime-Embattled Kiev (Sputnik).
More News On Ukraine's Economy
Ukraine hikes interest rate amid tanking economy -- Deutsche Welle
Ukraine security crisis weighs down economic reforms -IMF's Lagarde -- Reuters
Budget and reform plans put Ukraine on track for IMF aid, says G7 -- Reuters
G-7 Finance Ministers Optimistic Ukraine Will Get IMF Green Light -- WSJ
Ukraine's economy is starting to disintegrate: Polish Deputy PM -- Reuters
Russia doesn't want Ukraine's economy to collapse, says IMF chief Lagarde -- The Straits Times
Ukraine looks ready to default -- Ivan Martchev, Market Watch
Ukraine's Next Battle Zone Is Its Economy -- Bloomberg editorial
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