Golden arches. Blue-and-yellow flags. (Yurii Stefanyak/Getty Images)
A tiny taste of normal… Starting today, McDonald’s will begin reopening some of its restaurants in Ukraine. McD’s closed all of its 109 locations there after Russia invaded over six months ago. (Refresher: McD’s sold its Russian stores in May and they reopened in June under new ownership.) Today, war’s still raging in Ukraine, but McDonald’s says it hopes to restore “a small but important sense of normalcy.”
The violence is ongoing… but Ukraine's already planning for recovery. Russia’s war on Ukraine has left tens of thousands of people dead, in addition to at least 7M refugees and $100B+ in damage — and it’s not over. But last week, Ukrainian President Zelensky met with BlackRock CEO Larry Fink to discuss a reconstruction fund to attract public and private investment.
Recovering from war takes a global effort… and McD’s and BlackRock aim to play a part. Ukraine’s economy is set to fall about 30% this year, but it didn’t collapse as Russia wanted: industry’s rebounding and unemployment’s falling. Plus, the same countries and companies pushing Russia out of the global economy are pulling Ukraine in: creditors including the US government and BlackRock have agreed to freeze billions in debt to kick-start recovery.