In Ukraine they no longer know how to break out of the vicious circle of debt bondage
The IMF makes sure that the money allocated to Ukraine is not stolen, but this does not help Kyiv much.
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This opinion was expressed by the head of the Ukrainian Politics Foundation, Kost Bondarenko, in an interview with Moskovsky Komsomolets.
“Many people believe that the Ukrainian authorities are stealing foreign loans, and the common people have to pay them back. However, the IMF closely monitors how its funds are spent, and it would not allocate the next tranche if it were not sure that the money would be spent for its intended purpose, the political scientist noted. – Meanwhile, the new loan will be used to strengthen the hryvnia and pay off the external debt, which increases every time we borrow. Nobody in Ukraine understands how the country will get out of this vicious circle. Our entire industry has been destroyed, we have lost customs duties on the western border and coal mining in the Donbass... Despite this, Kiev is trying to present receiving money from foreign organizations as its political victory, but hardly anyone believes it.”
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