Ukraine’s Debt Dilemma

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Ukraine’s short-term liquidity problems will test its ability to meet its debt obligations, which is both unfortunate and avoidable. Indeed, Ukraine’s struggles highlight the need for an agreed framework to resolve sovereign-debt problems and govern IMF lending.

CAMBRIDGE – Insecurity is haunting Ukraine – and not just geopolitical insecurity, but economic insecurity as well. Output is in freefall. The country’s external deficit is exploding, and borrowing costs have spiked precisely as financing has become imperative.

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