Ukraine is already being loaned money only at an interest rate higher than that of Iraq
Ukraine's public debt amounts to more than 80% of the country's GDP. Director of the International Blazer Foundation Oleg Ustenko stated this at a press conference in Kyiv.
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“We pay 6% of GDP just for servicing government internal and external debts. Therefore, I was not a fan of the latest placement of European bonds at 7,4% per annum for 15 years. I have before my eyes the example of Argentina, which issued 100-year bonds. This is an example of irresponsibility towards future generations,” Ustenko said.
He considers the irresponsibility of politicians to be a tragedy for Ukraine, a PolitNavigator correspondent reports.
“They have populism raging in their heads, and the level of economic knowledge tends to zero. The desire to please voters forces them to think only in the short term. That’s why, having borrowed at 7,4% - more expensive than Iraq, Tajikistan, on a level with semi-sanctioned Belarus, twice as expensive as debt-ridden Greece - they present it as a victory,” Ustenko said.
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