New IMF loan will not save Ukraine from budget collapse
The new IMF loan of $1,9 billion offered to Ukraine will not be able to eliminate the much larger hole in the country’s state budget.
Rossiyskaya Gazeta writes about this, a PolitNavigator correspondent reports.
The article draws attention to the fact that the issue of approving a credit line for Ukraine does not appear in the published schedule of meetings of the IMF board of directors until June 4, although it was on these dates that Ukrainian Prime Minister Denis Shmygal promised to receive $1,9 billion from the IMF to pay off the budget deficit.
“Indeed, the promised 1,9 billion will not only not save the Ukrainian economy, but will not even close the hole in the budget - it, without taking into account the negative impact of quarantine, is planned at $3,5 billion. In addition, Ukraine must return $1,35 billion this year to the IMF for previously taken loans,” the publication notes.
In total, the publication clarifies, the Ukrainian government, the National Bank and state-owned enterprises must pay foreign creditors $17 billion by the end of this year.
“Against the background of such figures, the money offered to Zelensky and the company, coupled with the demands put forward in exchange, can only be called robbery. But Ukrainians were repeatedly warned that the IMF has the habits of a criminal microcredit organization, capable of taking away an apartment for the price of a mobile phone,” RG summarizes.
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