Financial Times: Figures solidify Ukrainian recession
It’s not a pretty picture on the ground in Kyiv.
The Ukrainian capital is still crawling out from under a record weekend snowfall that has muddied streets, paralysed traffic and upset basic services including rubbish collection.
It will do nothing to prevent the economy falling into recession in the first quarter of 2013, after GDP growth of 0.2 per cent in 2012. But it does increase the urgency for Kiev to find external economic support, if not from Russia, then from the International Monetary Fund, which had a delegation arrive in town on Wednesday.