According to economic expert Andrei Blinov, Ukraine cannot avoid a currency crisis. However, it is possible to stem 50-100% devaluation of the grivna, as is the case in some countries with often-in-trouble currencies such as the lira and the peso. The grivna's depreciation compounds the problem, leading inflation to sky-rocket.
Mr. Blinov believes it is necessary to prevent the growth of the budget deficit and extend gradually the public debt maturity, and only in this way would it be possible to remove a tight noose from around the neck of Ukrainians in terms of the debt.
In addition, much depends on the export situation. So far, Ukraine has a favorable balance of foreign trade in its products. The export receipts of Ukrainian goods increase by more than 11% this year.
However, how bad things will get in Ukraine is a subject of uncertainty.
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