Ukraine has a growing debt problem that the government under President Volodymyr Zelensky is only making worse. The International Monetary Fund’s financial support for Ukraine is conditioned on the country making various reforms that will reduce its dependence on international assistance in the future. Kyiv, however, appears to be looking for ways to circumvent the IMF’s conditions while still tapping into the market for government debt. That’s a dangerous strategy for a country whose relationships with the United States and the countries of Western Europe – which together constitute the main source of IMF funds—remain indispensable as it fights off Russia on its eastern border.
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Ilya Timtchenko: Ukraine’s debt problem spells trouble
A drone picture shows an aerial view of Ukraine's largest national flag in downtown Kyiv on Jan. 22, 2021.
