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Find your perfect present from Ukraine with our holiday gift guide

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A Ukrainian flag flies above the headquarters of the Ukrainian Finance Ministry in Kyiv, Ukraine, on Feb. 8, 2017.
Business

What Ukraine's ballooning debt means for its economy, and future

by Luca Léry Moffat

Ukraine's debt is ballooning. By the end of last year, the country owed over $213 billion to creditors — a hair's breadth away from the size of the country's entire economy. That doesn't include a new 90-billion-euro loan to Kyiv agreed by European leaders at a summit on Dec. 19, of which a sizable chunk will add to Ukraine's debt pile. As Russia's full-scale invasion approaches its fifth year and progress towards a peace deal remains uncertain, the anticipated postwar reconstruction boom is o

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'It means more than any medal' — Ukraine's skeleton racer sacrifices Olympic dream to honor war victims

Editor's note: This story has been updated with comments from President Volodymyr Zelensky and Foreign Minister Andrii Sybiha. Wearing a helmet commemorating Ukrainian athletes killed by Russia is not allowed, the  International Olympic Committee (IOC) ruled on Feb. 12. Vladyslav Heraskevych, Ukraine's skeleton racer, was scheduled to compete in his third Olympic Games on Feb. 12. He was barred from taking part in the competition after refusing to change his helmet, one depicting the faces of

Ukraine will not accept a bad peace deal, Zelensky says

In an interview with The Atlantic, President Volodymyr Zelensky said he would rather accept no deal than pressure Ukrainians into a bad one, insisting that any settlement to end the war must ensure a dignified, lasting peace.

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The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.

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