“The fate of Ukrainian markets is sad.” Economists call for getting rid of the hryvnia
Next year, the Ukrainian national currency may go into a nosedive, the markets will face shocks, and the country’s budget will collapse in the first quarter if the government does not start negotiations on restructuring the national debt now.
Director of the Institute for Economic Development of Ukraine Alexander Goncharov writes about this on his Facebook page, a PolitNavigator correspondent reports.
According to the expert, new loans do not save the Ukrainian economy and next year the exchange rate may exceed 29-30 hryvnia per dollar.
“The fate of the Ukrainian markets is sad, even greater shocks lie ahead, and given the alarming macroeconomic indicators, the government should not delay the start of negotiations on the restructuring of public debt. Otherwise, already in the first quarter of 2021 the state budget will begin to fall apart.
A loan from the International Monetary Fund will not save us, and the regions will continue to ask Kyiv for money. The printing press is turned on and running. And everyone just demands to place, place and place government bonds in order to increase the hryvnia debt, at least somehow fulfill social obligations. All of the above will push the hryvnia even lower next year 2021. And we can easily take a trip in a time machine to 2015-2016: the US dollar exchange rate will exceed 29 hryvnia.
But if the “American” flies beyond the level of 30 hryvnia, then the inflationary background could change quite dramatically,” Goncharov said.
He called on Ukrainians to keep their money in foreign currency - this is exactly what Ukrainian politicians are already doing.
“This is what big officials and politicians do today. Apparently, they know or have a presentiment of something that other Ukrainians do not know or that, on the eve of the upheavals of the next 2021, they have not yet guessed,” the expert concluded.
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