|
Ukraine's currency just collapsed 50 percent in two days
h/t Gates of ViennaUkraine, to use a technical term, is broke. That's what you call a country whose currency has lost half its value in just two days. The problem is simple: Ukraine has no money and barely any economy. It's already talking to the IMF about a $15 billion bailout and what's euphemistically being called a debt "restructuring" i.e., default as its reserves have dwindled down to $6.42 billion, only enough to cover five weeks of imports. (Three months worth is considered the absolute least you can get by with). Another "kinetic action" that doesn't go as planned? Posted by: g(r)omgoru 2015-02-08 |
| http://www.rantburg.com/poparticle.php?ID=410286 |