Money Talks: How to rebuild Ukraine

Economist Podcasts

The Economist

News & Politics, News

4.4 • 4.9K Ratings

🗓️ 19 October 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ukraine’s economy is both hurting and defying expectations. The International Monetary Fund (IMF) estimates that GDP will shrink by 35% this year and inflation is running at 24%. Yet slowly and grimly the country’s economy has adapted to war—and seems to be growing again. What can and should the long march back to normalcy look like?

On this week’s podcast, hosts Mike Bird, Soumaya Keynes and Alice Fulwood are joined by our European economics editor Christian Odendahl and our Europe correspondent Matt Steinglass, who is in Ukraine, to discuss the country’s economic future. They hear from Yuriy Ryzhenkov, the boss of Metinvest, Ukraine’s largest steel company and the owner of the factory that became the site of a deadly siege in Mariupol, about how the firm is adapting. And Vladyslav Rashkovan, the alternate executive director at the IMF responsible for Ukraine, outlines the key areas Western powers should be thinking about in terms of their plans to offer reconstruction aid to the country.

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Transcript

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0:55.5	global supply chains. To get the exporters edge search UK Export Finance or call 850-538-5-1.
1:03.6	It's 6am and we're in the key of train station, which is an absolutely beautiful example
1:27.2	of Stalinist monumental architecture. Matt Steinglas is our Europe correspondent.
1:31.7	He's currently in Ukraine. I met Aliegan Masha here, who just arrived from Kramatorsk,
1:37.5	the city in Ukraine's east. They were here to see their 21-year-old daughter for the first time
1:42.6	since she was injured in a horrific missile attack. They had to travel via the city of Znipro
1:49.4	because the station in Kramatorsk was destroyed in a bombing in the first few weeks of the war.
1:55.6	But Ukraine's rail company has recently repaired the tracks and today the first train is set to
2:00.8	depart. Alexander Shchefchenko is the deputy head of Ukraine's passenger railways. In peacetime,
2:15.2	he'd be communicating information about schedules. Now he tells me he's conducting iron diplomacy
2:21.5	through the country's trains. Normally, I would say that Boris Johnson or whoever would normally take
	...

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