Detailing just how bad Ukraine’s economy has been over the past couple of years, the head of the International Monetary Fund revealed Russia’s late 2013 bailout essentially saved the nation from full-scale economic collapse.
“Without the support that they were getting from this lifeline that Russia had extended a few months ago, they were heading nowhere,” Managing Director Christine Lagarde insisted.
Lagarde went on to say that the new IMF bailout “comes with a price” and is conditioned on reforms, adding the economy needs a “profound transformation of its fiscal policy, of its monetary policy, and of its policies on energy.”
The $27 billion IMF bailout, announced last week, came after the agreement that Ukraine cut back energy subsidies, meaning a 50% increase in the price of natural gas in May, and an electricity price hike later in the summer.
If Ukrainians think their economic conditions are difficult now, just wait until the IMF banksters start “reforming” their economy by robbing them blind.
Ukrainians will soon discover that the wolf is not at the door, it is in the house and it has an insatiable appetite.
I wonder how long it takes the Ukrainian people to call Volodya after the IMF sinks it's claws into the collective Ukrainian body. The Ukrainians should ask Greece how things are going.
The World Bank and IMF are used by the US and EU as
a means to grab and control natural resources. People
in the Ukraine are about to get a dose of what Spain,
Greece, Latin America, and Africa had to swallow from
these criminal organizations.
The Ukraine should ask the Russians, who still operate RBMK reactors, to help re-start the Chernobyl nukes. Perhaps the Russians would also help them to build new ones, or maybe the VVER, the Russian version of the pressurised water reactor. The Ukrainians should also talk to Linc Energy, which now owns Yerostigaz, and Uzbekistan where it's located, to see if they can obtain the technology to gasify their coal underground, and Sasol to obtain the Fischer-Tropsch tech to turn it into oil. The weakness of this one is that the Russians would be most unhappy to see the Ukrainians, or indeed anyone, obtaining the technology which would allow them to avoid buying Russian gas and oil. Of course, the threat could be a useful negotiating ploy to obtain Russian nuclear assistance. Another advantage is that the extra nukes, especially the RBMK's, and the extra CO2 from underground gasification would give the Greens heart attacks. Sounds like a win-win-win-win to me.