Monday, May 23, 2016

VZ — Kiev Hides Terms of New IMF Loan From the People

Kiev is pleased that it was able to negotiate with the IMF for new loans. However, it seems that there are few real reasons for joy. The amount of the next tranche is less than the one that the Ukrainian authorities originally hoped for. But most importantly, the government did not disclose the price that residents of the country will have to pay for the new loans.

The leader of the Ukrainian Radical party, Oleg Lyashko demanded that the Prime Minister of Ukraine Vladimir Groisman publish the "damning" text of the Memorandum on cooperation of Ukraine with the IMF.

"This morning I met with the Prime Minister and again demanded to immediately publish the damning text of the Memorandum, which they signed with the International Monetary Fund. I have seen these documents and know that the conditions include raising the retirement age and permission to sell land and strategic assets," he wrote on his Facebook. "These steps will destroy our economy, and we will not retire, because people will not live to be 70 years old," he added. According to him, it is necessary to refuse IMF loans.…
"Sale of state property for a pittance – that's the price Ukraine has to pay for a new handout from lenders," said Medvedchuk.…
Medvedchuk believes that the Ukrainian authorities are ready to pay a high price for IMF loans. He was confident that the Ukrainian authorities were supposed to put citizens on notice about the contents of agreements with the IMF. "Because the consequences of "reform" from the IMF will lay down a heavy burden on the shoulders of citizens, they should have their say regarding the terms of cooperation with the Fund," says the Ukrainian expert.…
Then IMF playbook that Michael Hudson laid out previously — asset stripping and austerity.

Fort Russ
Kiev Hides Terms of New IMF Loan From the People
Translated by Ollie Richardson for Fort Russ

1 comment:

Ryan Harris said...

Merkel sets up all these complicated subplots involving complicated EU and World Institutions designed to capture more of eastern europe and antagonize Russia to which Putin just responds almost wearily. Cartoons like Roadrunner and Wiley coyote are so amusing exactly because they play out the finer dynamics of the game Merkel and Putin are playing.