CSE and CIS
The Ukrainian parliament voted the law granting the Cabinet the right to pay its expenses to businesses with Treasury bills up to unlimited value. This practically breaks the central bank’s monopoly on the monetary policy.
Recession looms over Ukraine. The oligarchs rule. A currency crisis may break loose at any time. Foreign investors demand a high risk premium, some of them retreat. High interest rates hamper domestic investment, while domestic consumption is stemmed by recession. And we do not have the first idea how poor our neighbour is.