Starting today, the Ukrainian government will be imposing new COVID-19 restrictions that will apply throughout the country.
The government announced previously that it would impose a nationwide lockdown from January 8 to 24. Several thousand protesters, including small-business owners, have rallied against the COVID-19 measures in the first violent anti-lockdown protest in Ukraine to date. The protests are motivated by frustration over the economic effects of lockdowns and concern that true infection numbers are being suppressed by the government.
There is no doubt that, much like the rest of the world, Ukraine is suffering from both a lack of sufficient medical facilities and grim economic prospects. The World Bank approved a new loan for the country, worth $300 million, aimed at supporting Ukraine’s low-income families, as the bank projects the number of people living in poverty to reach 23% by the end of the year.
Although President Volodymyr Zelensky has announced preparations for the purchase of vaccines, economic uncertainty persists. Expect the Ukrainian economy to suffer sustained challenges, including reduced consumption and heightened reliance on foreign loans to cushion the effects of the pandemic.
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