Eastern Europe Is Borrowing Like Never Before as War’s Financial Toll Piles Up
- Region turns to foreign-currency debt as budget deficits widen
- Timing isn’t ideal as borrowing costs on foreign markets jump
The city skyline from the old town district of Warsaw.
Photographer: Damian Lemański/BloombergThis article is for subscribers only.
Across eastern Europe, the financial toll of Vladimir Putin’s 14-month-old war on Ukraine is piling up. Energy subsidies are being doled out, armies built up and refugees housed, schooled and fed.
To help pay those bills, Ukraine’s neighbors are tapping international debt markets like never before.