Yesterday we took a look at economic crises rocking Brazil and Venezuela, so today, spare a thought for our usual suspects (and their lenders), Greece and Ukraine, whose fortunes just seem to keep on crashing before our eyes.
A default for Ukraine is “almost certain”, according to Moody’s, which downgraded the country’s credit outlook again to negative, and the second-lowest rate. The country, which has received waves of IMF emergency funding and was begging for more foreign aid earlier this week, had economic problems even before the war – but now, its GDP is contracting dramatically, with the foreign minister telling …read more
Source: Macleans
