“By stalling economic reforms and refusing to fight corruption, the government has replaced cheap IMF loans at rates of about 1% with commercial loans at rates of 6.875% or higher,

” continues Verlanov, who was fired by Zelenskiy in April 2020. “The developments illustrate the government’s shortsighted debt management approach that has become the hallmark of Ukraine’s incoherent economic policies over the past 18 months.”