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Ukraine faces lockdowns on coronavirus
Journal Staff Report

KYIV, March 16 - President Volodymyr Zelenskiy announced nationwide shutdowns on Monday to contain the coronavirus spread, called for government restrictions on food exports and for aid talks with overseas donors to support the economy, Reuters reported.

In a special video address, he urged restaurants, shopping malls, cafes and gyms to close from March 17, a shutdown of domestic flights and rail and bus services between cities, and a state of emergency to be declared in two regions.

The finance ministry should hold negotiations with the International Monetary Fund for financial support, the president said, and banks should prepare loan holidays to support small and medium-sized businesses.

Ukraine has so far recorded five cases of the coronavirus, including one death. It has already shut schools and banned the entry of foreign nationals into Ukraine. It will ban passenger flights and trains to and from the country from Tuesday.

Zelenskiy said food exports should be restricted according to a list drawn up by the government of Ukraine, one of the worlds largest grain exporters. It was not immediately clear what items would be on the list.

He said parliament should stay open to pass key reforms, including legislation on the sale of farmland, and to appoint new ministers and a new prosecutor-general following a sweeping government reshuffle earlier in March.

Chinas experience shows that unpopular and harsh solutions overcome the virus and save lives, Zelenskiy said.

He urged citizens to stay at home except to buy food and medicine, and not to gather in groups of more than 10.

The global coronavirus emergency has weighed on the hryvnia, which slipped to 26 to the dollar last week for the first time since July 2019, prompting the central bank to sell nearly $1 billion in one week to prevent excessive currency fluctuations.

Ukraine secured provisional approval in December for a new $5.5 billion loan program from the IMF, but the money has still not been disbursed and is contingent on the government passing reforms, including land reform, and tackling corruption.

Rapid reforms are an ambulance for the economy, Zelenskiy said. Without them - an economic coma. (rt/ez)




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Currencies (in hryvnias)
  27.03.2020 prev
USD 28.14 27.96
RUR 0.362 0.356
EUR 30.86 30.27

Stock Market
  26.03.2020 prev
PFTS 513.4 514.3
source: PFTS

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