The Ukrainian army continues to make territorial and military gains against invading Russian forces on the eastern front. But how is the country faring on the ‘western front’?
Some have suggested that the dangers confronting the Ukrainian state come not only from Russian tanks but also Western banks and, more specifically, from Ukraine’s growing foreign debt.
This debt could hinder Ukraine’s spending on the war effort and drastically reduce its social spending. It also means that, once the war is over, Ukraine could face considerable pressure from its creditors on how the county’s reconstruction should happen.
