Economic horror awaits Ukraine, the days are counting
Kyiv, March 01 (PolitNavigator, Vladimir Raichenko) – Ukrainian media are largely guilty of spreading ridiculous myths regarding IMF loans as a panacea for solving Ukraine’s economic problems.
The ex-deputy chairman of the NBU, Honored Economist of Ukraine Sergei Yaremenko said this at a press conference in Kyiv, a PolitNavigator correspondent reports.
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“Actually, this is a complaint to the mass media (maybe, first of all), that you reproduce without thinking,” the economist emphasized. – For example, the myth about the IMF loan or the myth about experts. And we leave all this unpunished. Bring up your notes from last year, where pseudo-experts said that we are releasing the course, it will self-regulate, and in two months everything will be fine. Where are these experts? Where are these politicians who repeated the experts, or the experts who repeated the politicians? Where are these politicians who said that this policy has a beneficial effect on the economy of a country like Ukraine?”
Left unpunished, pseudo-experts, the former deputy chairman of the NBU continues, are pushing another myth - about IMF loans.
“As an economist and deputy chairman of the NBU, responsible for monetary policy in 1999–2005, I say that IMF loans in no way work for the Ukrainian economy,” says Sergei Yaremenko. – They give just enough to pay off previous loans with an increase in the amount of debt. And in no way does this affect the internal rules that enable the economy to develop. Can the economy produce debt repayment? There is a colossal destruction of the financial system and the economy as a whole. The scale of prices that awaits us will not allow the economy to work - we will still move on to barter.”
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