For average Ukrainians, the economic decline has caused a plunge in the value of the national currency, which in turn pushed inflation to highs of 60.9 percent, meaning the cost of living has soared far above modest increase in wages.
Finance minister Jaresko trying to renegotiate debt terms with an array of creditors, part of an IMF rescue plan that also includes new loans.
Some state-owned companies are also struggling, especially the rail network Ukrzaliznytsya, which defaulted on its domestic debt last week and is restructuring all its private-sector debt.
Modernizing Ukraine’s economy to lay the ground for a recovery has proved hugely …read more
Source: San Francisco Chronicle
