On the Brink The Ukrainian Economy in the Financial Crisis

The global economic crisis hit Ukraine hard in the middle of a boom. The country was cut of from global financial markets; the banking system came to a standstill; the stock market plummeted. Kiev had no other choice than to ask for assistance from the International Monetary Fund, which then put $16 billion at the country's disposal. Soon industrial production also collapsed, foreign trade was curtailed drastically, the country plunged into recession. In the meantime, all of the signs are pointing point to recovery. Now the fundamental forms that have been put off for years must be tackled.