Trade of sovereignty for beads: why the new IMF loans was not a reason for joy (editor-in-chief, Ukraine)

The joy of many about the approved International monetary Fund programme of cooperation with Ukraine five billion dollars looks strange. Why to rejoice? Due to the new loans and new debt? After all, we don’t earn the money, and just borrowed them, and on extremely disadvantageous terms for Ukraine.

All the years of our cooperation with the IMF was aimed at patching up holes, not more. We took out loans instead of agreeing to carry out draconian requirements. From the outside we dictate what programs we have to accept in their own country, what reforms to pursue, whom to appoint to a particular position…

In fact, continuing relations with the IMF, Ukraine sells its own sovereignty. Frankly, and for a pittance. Our country sells its sovereignty for handouts, like the Indians of glass and beads. It has become a state-addict who for the dose of the house makes the final chair, but for the sake of the IMF loan agreed to pay the last thing is.

And travel abroad million able-bodied Ukrainians is just one of the side effects of the conscientious fulfilment of the conditions of the Fund. In the 90 years we have developed and operates a system of destruction of its own economy, industrial potential, achievements that we had in the early years of independence, received their inheritance from the Soviet Union.

Personally destroying his own, and now we carry out the whims of others. First, we offer become an “agricultural superpower” (in 2016, said U.S. Ambassador to Ukraine Jeffrey Payette), then say to sell the land, then you raise rates, then raise utility bills and so on. A number of conditions, fulfillment of which is absolutely unprofitable to Ukrainian citizens.

These conditions are the one and only logic of serving the interests of transnational corporations.

As a result of such “cooperation” with the IMF, Ukraine has become a country of “third world” and could soon become the country’s “fourth world”. Look at the situation in African and Latin American countries — there is no state, thanks to the cooperation with the IMF not become prosperous.

Moreover, given our special relationship with the IMF, established after the signing of the “Memorandum Yaresko”, (former Finance Minister, was in office from 2 December 2014 to 14 April 2016 — approx. transl.) the principle that the higher the GDP of Ukraine, the more we must return to the Fund. In the coming decades, we are doomed to be a poor country. Even if the Ukrainian economy will begin to grow, Ukrainians will feel it, because all the money will go on repayment of debts.