UKRAINE Fighting Back

2 Views

0 Likes

September 4, 2024

Video Summary

Ukraine’s economy has been in a state of crisis since the 2014 annexation of Crimea and the subsequent conflict with Russia. Despite the challenges, the country has made significant progress in recent years, including agreeing to a restructuring plan for its bond obligations and a new deal with the International Monetary Fund (IMF).

The country has a population of around 38 million people, with a birth rate of 8.5 per 1,000 people and a death rate of 15.2 per 1,000 people. This has led to a declining population, with a current population level of around 38 million, similar to that of 1950. The country’s exchange rate has also seen significant fluctuations, with the Ukrainian hryvnia worth 41 US dollars compared to 28 in 2022.

GDP has been growing again, with some industries starting to recover. However, the war is still ongoing, and the economy remains precarious, with the potential to change rapidly in response to events on the ground.

The government has also had to restructure its debt, with a new deal agreed with bond holders, which will see Ukraine pay 1.75% coupon on bonds, rising to 7.75%. This is a significant improvement from the original deal agreed in 2015, which was seen as very expensive for Ukraine.

Ukraine is also the third-largest holder of IMF debt, with an agreed facility of $15.6 billion, although it has only drawn down $7.6 billion so far. The country’s economy will continue to face significant challenges until a peaceful settlement is reached, but there are signs of progress in recent years.