It Cost Ukraine’s Government $4 Billion To Get Re-Elected

It Cost Ukraine’s Government $4 Billion To Get Re-Elected (ZeroHedge, Dec 20, 2014):

As the world grows used to hearing of reserve depletion among less-developed nations defending their currencies from collapse, we thought the following chart might open a few eyes as to the real driver of attempting to create ‘stability’ by intervention. In the run-up to October’s parliamentary election in Ukraine, the Hryvnia became oddly stable – signaling to the world that the current government had everything under control and should be re-elected. Since the re-election, the Ukrainian currency has re-collapsed to record lows. How did the Ukrainian government ‘ensure’ re-election via ‘stability’? By blowing almost $4bn (a record 23% of reserves) in one month to maintain the currency’s level…

20141219_UAH

Money well spent we are sure…

Charts: Bloomberg

5 thoughts on “It Cost Ukraine’s Government $4 Billion To Get Re-Elected

  1. An unpopular US puppet government and it cost them $4 billion to get re-elected?
    Does anyone have an idea how much that is in Ukraine funds? I know it is worth a heck of a lot in Ukraine funds!!!!
    That is how despised they are, and it will only get harder for them as time progresses.
    I’d sure like to know that. Stanley, do you know? Or, how about my friend at IU? Looks like it cost more than a five cent beer and a hot lunch……..how much is that per citizen?

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