Ukraine has a month to avoid default
Lending to a borrower at war entails an additional gamble: that it will win
War is still exacting a heavy toll on Ukraine’s economy. The country’s GDP is a quarter smaller than on the eve of Vladimir Putin’s invasion, last year the central bank tore through foreign reserves and Russia’s attacks on critical infrastructure have hurt growth forecasts. “Strong armies”, warned Sergii Marchenko, Ukraine’s finance minister, on June 17th, “must be underpinned by strong economies.”
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This article appeared in the Finance & economics section of the print edition under the headline “In the wars”
Finance & economics July 6th 2024
From the July 6th 2024 edition
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