The strategy worked, at least until Russia attacked the nation in February this year. Once more, the IMF jumped to Kyiv's rescue offering fresh credit in exchange for tough economic reforms. The economic upheavals following Russia's 2014 annexation of the Crimean peninsula and the cessation of the self-proclaimed People's Republics of Donetsk and Luhansk in Russian-speaking eastern Ukraine again brought the country to the brink of economic collapse. After it won independence from the former Soviet Union some 30 years ago, the country has been veering between economic and financial crises virtually all the time.ĭuring the 2008/2009 global financial crisis, Ukraine could only be rescued from state bankruptcy with the help of a multibillion-dollar financial lifeline provided by the International Monetary Fund (IMF). Ukraine is one of the biggest countries in Europe, with a size of some 600,000 square kilometers (231,000 square miles) and a population of about 40 million.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |