Ukraine: Ukraine's economic washout
It is going to be a pretty chilly winter in Ukraine. Most law firms accept they are facing major challenges, but are hoping for an upturn in financial and political conditions when temperatures go back above zero again in March."It is very difficult to predict where we will be even next week," says Vladimir Sayenko, managing partner of five-partner Sayenko Kharenko, which prides itself on its 'innovative cross-border' work. As Legal Week ILFE went to press, Ukraine had just been offered a £10bn loan from the International Monetary Fund (IMF) to save the country from going bust. On the upside, the state of financial emergency has at least ameliorated a political stalemate, forcing the Prime Minister and President to get on speaking terms again.
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