Ukraine fact of the day

The Ukrainian economy shrank 4.7 per cent annually in the second quarter, far deeper than expected and casting a cloud over the assumptions that underpin the International Monetary Fund’s $17bn bailout.

That follows a 1.1 per cent year-on-year contraction in the first quarter. Given the ongoing unrest in eastern Ukraine, where much of the industrial base can be found, economic growth is unlikely to pick up later this year.

There is more here.


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