Instability requires fast and coordinated action from Ukrainian authorities – Vox Ukraine

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Vox Ukraine, an influential group of largely free-market economists, warned in an open letter: “Ukrainian authorities have no time, and instability in the world requires fast and coordinated action.” Vox reminded: “In the event of a pandemic, global growth can stop completely, as it did in 2009 during the global financial crisis. That year, the Ukrainian economy contracted by 15% and the hryvnia depreciated by 37%.”

Solutions include: “resumption of cooperation with the IMF” and “preparation of stabilization measures to curb the possible outflow of deposits and withdrawal of capital.”

Vox concludes: “The situation in the world economy is worsening daily. There is no time or resources for populism, emotional decisions and internal struggle. The question is the fate of millions of Ukrainian citizens.”

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