In Ukraine, continued conflict, collapsing currency and a money crunch

February 6, 2015

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Ukraine is a bad — if somewhat surreal — place to be right now.

On Friday, the leaders of France and Germany flew from Kiev to Moscow to try to broker a peace between Ukraine and pro-Russian rebels in the conflict that began when Russia annexed Crimea early in 2014. As this Reuters graphic shows, in just over nine months since the conflict started, in April of 2014, more than 5000 have died, with the number of wounded approaching 12,000. A Reuters map shows the ebb and flow of territory under the separatists’ control, as well as the locations of dozens of recent flash points of violence.

Ukraine needs $15 billion in funding, and the country’s financial straits mean that even Ukrainians outside the contested portion of the country are feeling the effects of the conflict. On Thursday, the hryvnia lost as much as 30 percent of its value against the dollar when Ukraine’s central bank removed an unofficial peg for the currency, throwing the need for financial support into sharp relief. This week, the United States announced a pledge of $16.5 billion, last month, European Union finance ministers agreed to lend Ukraine $2 billion and the IMF has a $17 billion package in place.

Those curious about the situation on the ground can dive into the data Big Brother-style at http://bellingcat-vehicles.silk.co/, in addition to reading the latest reports from Reuters.

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2 comments

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“.. This week, the United States announced a pledge of $16.5 billion ..”

Fraudulent use of tax payer dollars for this conflict of no interest to public nor to the nation.

Posted by Mott | Report as abusive

This is a dangerous game – drawing Russia to a proxy war. Hope this insanity passes.

Posted by Mott | Report as abusive