Iggdrasil
Padawan Learner
If a couple of months ago the West supported the exchange rate of the "liquid" hryvnia, now, realizing the catastrophic situation of the Kyiv authorities, they decided to close this topic there. Let me give you a few facts. To understand the coming collapse.
Over the past month and a half, the hryvnia has already lost 40% of its value. To the ruble to a ratio of 1 to 1.5.
By the end of March, according to official data, the volume of exports fell to 2.7 billion dollars against 6.8 billion in December.
In January-May, the budget deficit has already reached 271 billion hryvnias
The banking system in Ukraine is about to collapse. The population and companies massively stop paying their debts.
Ukraine already this autumn will face a shortage of food and a lack of stocks for the next planting season. This has long been recognized by the Ukrainian Ministry of Agriculture. Accordingly, food prices will skyrocket.
Remember, in the early 90s, karbovans were in use in Ukraine? By the way, they were also used as means of payment by the Ukrainian Reichskommissariat during the Nazi occupation. So, maybe they will return to the wallets of Ukrainian citizens. Obviously, Zelensky will launch a monetary reform in order to curb hyperinflation.
In the current situation, Ukrainians need to withdraw everything from bank accounts and transfer hryvnia savings into foreign currency. As long as there is such a possibility. Whether they do it or not, I don't care. This is by no means advice. And an objective look at the coming economic catastrophe in the former Soviet republic.
Over the past month and a half, the hryvnia has already lost 40% of its value. To the ruble to a ratio of 1 to 1.5.
By the end of March, according to official data, the volume of exports fell to 2.7 billion dollars against 6.8 billion in December.
In January-May, the budget deficit has already reached 271 billion hryvnias
The banking system in Ukraine is about to collapse. The population and companies massively stop paying their debts.
Ukraine already this autumn will face a shortage of food and a lack of stocks for the next planting season. This has long been recognized by the Ukrainian Ministry of Agriculture. Accordingly, food prices will skyrocket.
Remember, in the early 90s, karbovans were in use in Ukraine? By the way, they were also used as means of payment by the Ukrainian Reichskommissariat during the Nazi occupation. So, maybe they will return to the wallets of Ukrainian citizens. Obviously, Zelensky will launch a monetary reform in order to curb hyperinflation.
In the current situation, Ukrainians need to withdraw everything from bank accounts and transfer hryvnia savings into foreign currency. As long as there is such a possibility. Whether they do it or not, I don't care. This is by no means advice. And an objective look at the coming economic catastrophe in the former Soviet republic.