Ukraine’s Finance Ministry doesn’t get enough credit. For four years it has been key to avoiding the worst of the economic downturn and attaining macroeconomic stability as the country continues to respond to Russian aggression.
The Finance Ministry is in the spotlight again. Ukraine’s got massive debt that comes due in 2018-2019, and it’s still unclear if the country will receive the next $2 billion infusion of credits from the International Monetary Fund after foot dragging on anticorruption reforms. According to the World Bank, Ukraine needs to borrow the equivalent of 7.3 percent of GDP per year, including about $8 billion internationally, to finance debt payments and the deficit in 2018-2019.
