Kyiv is bracing for a shaky autumn, hoping its finances and economy can hold up.
Figures this week reveal that central bank reserves
continued their steady two-year decline, falling to $22.7bn, the lowest level
since 2006, 7.4 per cent down year to date, and just below 2.7 months of
imports (three months is considered the safe threshold).
Further shrinkage is expected in coming months as Ukraine’s
government struggles to pull their country out of recession mode, control a
trade deficit and cover some $4bn in external debt payments. An escalating
trade standoff with Russia and the European Union could exacerbate things.
