In recent months Ukraine’s problems have mainly been political. But in addition to the annexation of Crimea and fighting in the east of the country, Ukraine’s economy may be entering a full-blown depression. This year its currency, the hryvnia, has lost half its value against the dollar. Inflation is at nearly 20%. Ukrainians are panic-buying food and other essentials. Economists worry that by the end of this year, the country may have no money left to pay its debts. What has gone so wrong?
From The Economist