Interesting. I visited the Ukraine just before the Orange Revolution, so I am somewhat familiar with the country and its economic challenges. (Nothing like a four-hour wait at the border to create a good first impression.) The Ukraine is similar to a certain strata of countries that I think are headed for a particularly tough time. Such countries don't have substantial reserves, and credit gets choked from their economy, they'll be forced to implement tough measures, which will further hurt their economy. Grzegorz, do you talk to others in the financial services sector in the Ukraine? What measures are they taking to prepare for a worsening economy there?
At 12:46am on October 31, 2008, JJ Hornblass said…
Was just reading out the IMF's loan to the Ukraine. How's the banking industry there? Has the downturn spilled into the credit collection space? Do you think the IMF loan will help?
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-JJ