TOPACCOLADE NEWS

Since the invasion of Ukraine began in late February, their economy had decreased by nearly 50% says the World Bank.

The Black Sea being blockaded by the Russian Navy, people fleeing, people being killed, taxes going unpaid, businesses being shut down, shops being bombed, and the rise of national debt accrued by Ukraine are most of the reasons why the nations GDP has shrunk by 45%-50%.

The war in Ukraine has a devastating on the lives of those living there, and causing economic destruction for both Ukraine and Russia.

The ripple effect of this can be seen across Europe and Central Asia.

The International Monetary Fund (IMF) have announced that it and the World Bank will host finance ministers from Ukraine to discuss how the economy can stay afloat, amidst the continuing Russian invasion.