Ukraine PM Says Foreign Debt to Stay Serious Issue for Years
Sunday, April 22st, 2018
By Kateryna Choursina
KYIV -- (Bloomberg) Ukraine Prime Minister Volodymyr Groysman said servicing foreign debt will remain a serious issue for years to come after mismanagement and corruption under previous administrations. The eastern European nation must implement reforms and accelerate economic growth to manage the burden, Groysman said Friday in comments broadcast from parliament. He told lawmakers that borrowing between 2007 and 2013 -- just before Ukraine’s Russian-backed leader was toppled -- “was a huge crime” and it’s unclear where that money went.
Groysman said later in televised comments. “We’re dependent on foreign borrowing now.”
The premier urged continued efforts to resume cooperation with the International Monetary Fund over Ukraine’s $17.5 million bailout loan.
To contact the reporter on this story: Kateryna Choursina in Kiev at email@example.com
Ukraine: A Land Of Economic Problems Or Opportunity?
Friday April 20th, 2018
Two years ago, Ukraine came out of recession – but so far the country has only managed to achieve modest economic growth. There seem to be a number of factors limiting Ukraine’s economic progress: its strained relationship with the western institutions, such as the International Monetary Fund (IMF), internal political struggles with rule of law and corruption and the ongoing war in the occupied eastern territories.
However, according to Editor-in-Chief at the Ukraine Business News (UBN) James Brooke, there is reason to be optimistic about Ukraine’s economic future. The latest report cites a new production line from one of Ukraine’s biggest food processing companies, 13 new gas wells in the Lviv region and the introduction of Ryanair flights to and from Ukraine as indicators of the country’s improving economic situation.