Ukraine declares state of emergency

RUSSIA / FSU POLITICS - In Brief 27 Mar 2020 by Alex Teddy
On 24 March Ukraine declared a state of emergency over coronavirus. 218 people have been diagnosed with the disease which is a rise of 62 in one day. Only 5 people have died thus far. After Kyiv it is Chernivtsi Region that is the hardest hit. Quarantine has been prolonged until April 14. On March 26 the borders close. Virtually all public transport has been halted in Kyiv. PrivatBank which is stated owned is allowing small and medium-sized enterprises a moratorium on debt repayments until May 31. On March 24 Ukraine and the IMF agreed on a law that would prevent Ihor Kolomoisky regaining control of PrivatBank. Kolomoisky lost control of it in 2016. Ukraine badly needed an IMF loan anyway. But since coronavirus has surely started a recession the need for a loan has become urgent. The IMF also wants land reform in return for extending credit. The loan is rumored to be USD 9.5 billion. The law needs support in the Rada (Parliament). This not a foregone conclusion. Kolomoisky still has clout. His minions in the Rada are pledged to block the bill.

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