Fitch ratings agency has downgraded Ukraine's long-term and short-term foreign currency issuer default ratings, as we noted on Monday. A year-long military conflict in eastern Ukraine has led to economic turmoil, and the country's GDP was expected to fall 12% by the end of this year, more than the 7.5% predicted in April, the World Bank reported this week. The IMF said it would not be able to provide any further assistance for Ukraine.
Fitch ratings agency has downgraded Ukraine's long-term and short-term foreign currency issuer default ratings, as we noted on Monday. A year-long military conflict in eastern Ukraine has led to economic turmoil, and the country's GDP was expected to fall 12% by the end of this year, more than the 7.5% predicted in April, the World Bank reported this week. ﻿T﻿he country is now heavily ﻿dependent on the International Monetary Fund and other international donors.