KYIV—Ukraine is engulfed in a financial crisis. Without further Western aid, the Kyiv government will run out of money to service its debts. If the situation continues, Ukraine could face possible default on its bonds in four to six months, if Russia demands early repayment on a multibillion-dollar loan it gave Kyiv before the ouster this year of pro-Moscow President Viktor Yanukovych. Revolution, months of conflict with Russia on its southeastern border and pervasive corruption and staggering economic mismanagement by the Yanukovych regime has “plunged the country into an existential crisis,” warns economist Anders Aslund, a fellow at the Washington-based …read more
Source: Egylovers
