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The International Monetary Fund Might Not Live to See Its Anniversary

The latest meeting of the ministers of finance and central bank governors of the G20 countries took place April 10-11, 2014 in Washington. A key issue was the reform of the International Monetary Fund (IMF)... Through their inaction on the issue of reforming the IMF, the United States first and foremost is discrediting itself. And second, the Fund. Third, the G20. The Fund's reputation is plummeting especially fast considering that in recent years China has been giving "third world" countries loans similar in size to those offered by the IMF and the IBRD. But Beijing, unlike the IMF, does not set political conditions in the spirit of the Washington Consensus...

Valentin KATASONOV | 19.04.2014


 

European Union Not Prepared to Help Kiev Financially

Ukraine is a key element of new Eurasian politics, and from this point of view Brussels' maneuvers with regard to Kiev are rather telling. In particular, the West's unwillingness to give Kiev any real financial assistance whatsoever is becoming in-creasingly noticeable. This was demonstrated once again at the ECOFIN meeting which took place in Athens April 1-2...

Pyotr ISKENDEROV | 05.04.2014


 

Ukraine’s Economy Would Have Collapsed Without Russian Aid – IMF Chief

News | 04.04.2014


 

Ukraine’s IMF Deal Means Greece-Like Depression

On March 27, 2014, the IMF released the broad outlines of its terms and conditions for loans and other measures for the Ukrainian economy. What those terms and conditions mean is less a rescue of the Ukrainian economy than the onset of a Greece-like economic depression for the Ukrainian populace. Ukraine’s economy had clearly entered a recession, its third since 2008, sometime in the latter half of 2013. Some recent estimates of the likely contraction of the economy in 2014-15 have ranged from 5%-15% in GDP decline.

EDITOR'S CHOICE | 30.03.2014


 

Regime Change in Ukraine and the IMF’s Bitter “Economic Medicine”

In the days following the Ukraine coup d’Etat of February 23, leading to the ousting of a duly elected president, Wall Street and the IMF – in liaison with the US Treasury and the European Commission in Brussels – had already set the stage for the outright takeover of Ukraine’s monetary system. The EuroMaidan protests leading up to “regime change” and the formation of an interim government were followed by purges within key ministries and government bodies.

EDITOR'S CHOICE | 25.03.2014


 

EU-Ukraine Trade Deal Paves the Way for Brutal Economic Austerity. IMF to Apply “The Greek Model”

Amid intensifying US and European Union sanctions and military provocations against Russia, the EU and the Western-backed government in Ukraine yesterday signed a pact that paves the way for brutal austerity measures and free market “reforms.” The EU-Ukraine Association Agreement is based on the deal that former President Viktor Yanukovych’s Ukrainian government rejected, leading to the US- and EU-instigated protests and violence that ousted him last month.

EDITOR'S CHOICE | 23.03.2014


 

Western Tight Noose around Ukraine’s Economy Neck

Economy in doldrums, the Kiev junta is urgently reviving cooperation with the International Monetary Fund. On March 4 a team from the IMF was in Kiev to study the books and consider a loan. Kiev hopes to get the first $3 billion in a month. Yatsenyuk rushed to assure the West that Ukraine is ready to meet all the conditions put forward by the Fund... The IMF conditions are going to strike agriculture. Western creditors demand to rescind the moratorium on the sale of agricultural land, the value-added tax easing law for those who reside in rural areas and also subsidies for pork and chicken meat producers. Besides, the International Monetary Fund wants Ukraine to privatize all coal mines and completely abrogate state subsidies for them. Transport, as well as housing and communal services benefits are to be revoked...

Olga SHEDROVA | 09.03.2014


 

IMF and Ukraine: Bleak Prospects for Future

It was reported recently that the International Monetary Fund (IMF) and Ukraine planned launching talks to nail down a new aid package. This year Ukraine is to pay off 6 billion dollars. It has asked the IMF for a $15 billion loan. Kiev hoped to receive it as early as April. But the talks have not started so far (a group of IMF experts is to visit Ukraine in early March) and there is no talking about any time frame... There is an impression that the IMF experts are coming to Kiev not for the purpose of making precise the conditions for granting a new loan, but rather to see if the International Monetary Fund could get back the money Ukraine owes to it this year and how quick it could be done. The country is on the verge of default. The situation is critical no matter what criteria are used for assessment. The Ukraine’s economy is burdened by internal and external debts...

Valentin KATASONOV | 04.03.2014


 

Financial Vultures against Argentina

This year, the United States Court of Appeals for the Second Circuit accepted Argentina’s complaint for examination. At the end of August 2013, the court announced its own, possibly historical, decision revoking the right of a sovereign state to independently manage its own debt... 

Valentin KATASONOV | 03.10.2013


 

Will West Let Ship Called IMF Sink?

...The only real issue discussed in concrete terms at G20 meetings is reviewing the quotas for International Monetary Fund (MF) members. It will be on the table at the September 5-6 G20 summit in Saint-Petersburg. This subject is a thorny one being related to vital interests of major groups of countries and each state individually... The discrepancy between the existing correlation of contributions into the world economy and the determination of quotas in the International Monetary Fund has become too obvious. The BRICS members – the states with dynamic economies – are the chief initiators of the idea to reconsider the formula used for determination of IMF quotas...

Valentin KATASONOV | 04.09.2013




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OUR COLUMNIST
    Olga SHEDROVA

Presidential Elections in Ukraine To Be Held in Violation of Council of Europe Norms

...The legislative changes adopted by the new Ukrainian government in violation of European standards for holding elections cannot but lead to the gross distortion of the will of voters. Such results will not reflect the entire gamut of the population's political preferences. Large segments of Ukrainian citizens will thus be excluded from the political process...

21.04.2014
 
 
 
 
 
 
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