Moreover, crisis was near permanent in #Ukraine during 1980s, when it was part of #USSR that later collapsed unexpectedly for so many.
They were slow and very fast ones. 5/n
While reading it, being on the 2nd chapter, my 1st thought was 'this is it!'. This just does explain a lot of Ukraine's econ misfortune. 12/n
The “tap” was organized by @jpmorgan and as reported by @wsj the issue price was 98.88 cents on the $.
This shows (1) desperate needs for FX monetary reserves, (2) that are required for tight govt FX debt re-payments, (3) #Ponzi like position of the govt that borrows to payback %+principal of past FX debt.