Ukraine has a month to avoid default
Lending to a borrower at war entails an additional gamble: that it will win
War is still exacting a heavy toll on Ukraine’s economy. The country’s GDP is a quarter smaller than on the eve of Vladimir Putin’s invasion, last year the central bank tore through foreign reserves and Russia’s attacks on critical infrastructure have hurt growth forecasts. “Strong armies”, warned Sergii Marchenko, Ukraine’s finance minister, on June 17th, “must be underpinned by strong economies.”
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This article appeared in the Finance & economics section of the print edition under the headline “In the wars”
Finance & economics July 6th 2024
From the July 6th 2024 edition
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Germany’s economy goes from bad to worse
Things may look brighter next year, but the relief will be short-lived
An economics Nobel for work on why nations succeed and fail
Daron Acemoglu, Simon Johnson and James Robinson tackled the most important question of all
Why investors should still avoid Chinese stocks
The debate about “uninvestibility” obscures something important
China’s property crisis claims more victims: companies
Unsold homes are contributing to a balance-sheet recession
Europe’s green trade restrictions are infuriating poor countries
Only the poorest can expect help to cushion the blow
How America learned to love tariffs
Protectionism hasn’t been this respectable for decades