If Ukraine Defaults, the Currency Would Fall Even Further

In case of a default in Ukraine, the country's currency would devalue even more, said Tom Coupe, Associate Professor and Senior Economist at the Kyiv School of Economics and an analyst with VoxUkraine. Since Ukraine has slowly moved towards the brink of default, in the event of one actually occurring, it would not be as damaging to the economy as if a default occurred without forewarning. Similarly, the effects of a default would not be as devastating for the hryvnia since financial markets are already braced for a potential default. 

Bloomberg rated Ukraine's hryvnia as the World's Worst Performing Currency in 2014. 

Tom Coupe and Devin Ackles of CASE Ukraine spoke with Hromadske International co-hosts Ian Bateson and Nataliya Gumenyuk during the Sunday Show on January 18, 2015.