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Ukrainian American Bar Association

Ukraine struggles on brink of economic crisis

17 Jan 2015 4:49 PM | Anonymous

At the warehouse of Modnakasta, one of Ukraine's largest online retailers, the air hums with the lively chatter of workers and sound of hundreds of boxes being packed and sealed. It sounds like success: clothing, footwear, household goods and bathroom items are all being loaded and then shipped throughout the country. And indeed the company's owner, Andriy Logvin, says business has rocketed since it began four years ago. But because of Ukraine's deteriorating economy, he says that right now the company is just managing to keep its head above water. Business has doubled in the past year, but because of the drop in value of the national currency, the hryvnia, he is barely breaking even.   BBC News.   Read More

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