A year in Dnepropetrovsk

An American volunteer in Ukraine

Archive for economic crisis

Craziness and idleness

We moved. Everyone moved.

I was trying to explain the economic situation to my grandmother the other day after she told me that it couldn’t be worse than in America.

It is.

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Metsudah

This post dates back to the 17th of November; I just now realized that I never published it! Enjoy this blast from the past…

I had heard so much about the Metsudah program in my short time here, but couldn’t really understand what made it so special. This weekend I had the chance to experience it firsthand.

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So much to be thankful for

This Thanksgiving, while I was at home in NY celebrating with all those people who are dearest to me, the lives of my counterparts in Mumbai were drastically changed. The Chabad Rabbi and his wife, central figures in the small Mumbai Jewish community, were among the 188 victims, and the Jewish center was one of the primary targets during the four days of terror.

The following JTA article shares a little about Gavriel and Rifkah Holtzberg and the welcoming community they created.

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Economic crisis in Ukraine

The worldwide economic crisis has not passed over Ukraine. Every day the grivna (Ukrainian currency) deflates even more. While this is great for me, because I get more bang for my buck, it is really destroying Ukraine, whose economy is based largely on exports. This Kyiv Post article discusses the effect on the steel industry, based in the east (ie: where I live and work!). The article was written in Donetsk, one of the cities I travel to quite often; I just got back from a business trip there yesterday, in fact. Most eastern cities, like Dnepropetrovsk and Donetsk, are large industrial centers that run the entire Ukrainian economy, so while the crisis has only begun affecting the east, it will soon spread to the west. Already banks are suffering. I have heard stories of banks and ATM machines running low on cash in the past month. Naturally, investment in gold, like in the US, has greatly increased. JDC is struggling to cut its budget without having to cut services or fire employees. It’s rough. Things are looking up, though. The Verkhovna Rada (Ukraine’s parliament) finally met after two weeks of being deadlocked to approve legislation for a $16.5 billion loan from the IMF. This should help float the grivna and give banks more liquidity. For more, check out this Business Ukraine article.