Battle at the Precipice of Default

UKRAINE - Report 26 May 2015 by Vladimir Dubrovskiy and Dmytro Boyarchuk
Fortunately there was no further military escalation in Ukraine's eastern regions in May; the action was confined mainly to skirmishes and local clashes. Public attention was instead focused on government efforts at debt restructuring, on scandals over the personnel policy of the Cabinet and on reform efforts.A potential debt default was front and center in the May headlines, but now seems to have reached a stalemate.Creditors rejected the idea of debt reduction, while the Ukrainian authorities have failed to propose anything new.But the arrival of the IMF mission in Kyiv on May 12th did sp...

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