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'THERE is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on [...]

Ukraine moves towards a free exchange rate Exchange-rate moves by Ukraine's central bank in the past month signal that the country is moving towards a floating exchange rate that unifies [...]

PUSHING back the cuffs of his houndstooth jacket with a diamond- ringed finger, Alexey Danilov, the mayor of Luhansk, a grimy coal town in eastern Ukraine, explains how he deals [...]

'AN ENGINEER of aerodynamics will tell you that a bumble bee cannot fly, but it does.' This is how Simon Heemans, the British ambassador in Kiev, explains the fact that, [...]

Severe economic conditions in Ukraine are detering some western companies from investing there, and those already present there are finding it very difficult to do business. Inflation is now into hyperinflation levels of more than 50% a month, and western companies have had to turn to indexing in order to keep margins on sales and control costs. They are also dealing with currency and inflation risks by moving as much of costs and prices as possible to other currencies.

FOR the first time in nearly three centuries, prominent members of the Russian elite envy their Ukrainian cousins. In Moscow Arkady Volsky, champion of the captains of Russia's state-coddled, inefficient [...]

The politico-economic scenario of Ukraine, through 2007, is presented.

Demand for international brand credit cards increased by 123% in the Ukraine in the period from mid-1999 to mid-2000. Western card companies are scrambling to continue this rate of growth, and are optimistic about the country's long-term prospects.

Western investors believe the Ukraine economy can weather the storm resulting from the collapse of the Russian economy, to which it is closely linked. Optimism stems from strict Ukrainian debt control which ensures banks keep up to date with loan repayments, making them less susceptible to currency fluctuations. Ukrainian exports are forecast to fall from $14 billion in 1998 to $13.8 billion in 1998, while average consumer prices could rise from 8.5% in 1998 to 25% in 1999.

KIEV WHATEVER the 'health reasons' that encouraged Pavlo Lazarenko to step down 'temporarily' on June 23rd as Ukraine's prime minister, the main reason he went was to take the blame [...]

Government reforms in the Ukraine have reduced inflation from 500% in 1995 to 35% in 1996. The currency is stable, yet foreign investment is only $1.2 billion. Conflicting laws and regulations, constantly changing legislation, and high taxes make foreign investment unattractive. Bureaucratic procedures are time-consuming, banks are inflexible, and foreign companies are restricted in their ownership of shares. While all these measures have been introduced to fight corruption, they impede honest businesses from investing in the Ukraine.

The Ukrainian economy faces high inflation and shrinking economic growth in 1994. Western sales are estimated at $1 billion and stagnating. Gross domestic product fell by 20% from Jan to end-Aug 1994, but private and service sector activity is often unrecorded. Inflation will fall to some 2,000% in 1994 from some 3,000% in 1993, and criteria for an International Monetary Fund loan will not be met, with economic policy ineffectual and confused. Privatization is slow, banking services are poor, and infrastructure provision is inadequate.

THE economic sick man of Europe may at last have a chance of revival. Since the election two months ago of a new president, Leonid Kuchma, the Ukraine government has [...]