![]() ![]() ![]() About $12 billion in debt comes due by the end of next year, a top official said, and currency reserves are dwindling. The finance minister of the previous government said Ukraine needed $35 billion to right itself, but the new government suggests it is not that high. Negotiations with global authorities are focused on Ukraine’s liquidity problems. Putin, has continually pressured Ukraine, which he recently called a “brother nation,” to resist the West. In the decades after communism’s fall, Ukraine and Poland have taken notably different tacks.Īs part of the Soviet Union, Ukraine, a largely agrarian society that was later industrialized, has been tied to an old regulatory system where widespread corruption and oligarchs flourished. And it has fared especially poorly against Poland, its neighbor to the west, which, while by no means perfect, has been a model of how much faster a former Soviet bloc country can advance. Since the breakup of the Soviet Union, Ukraine’s growth has badly lagged other one-time communist states. Economists stress that the problems run deep in Ukraine, a country still dealing with the legacy of its Soviet past as it tries to embrace trade opportunities beyond Russia. The International Monetary Fund, which is finishing its on-the-ground review of Ukraine this week, is expected to call for reforms as a condition of any long-term aid. ![]()
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