Disagreements between the IMF and creditors of Ukraine threaten the country disorderly default, writes the American magazine.
Getting presumably fifteen billion of the 40 billion " aid " IMF actually depended on the outcome of negotiations with creditors. More than a third of the package in fact consisted not of money that the IMF was going to give Ukraine, and from the money - review of the IMF - Ukraine could reduce costs by ceasing payments on the debt. However, the success of these negotiations from the beginning, no guarantee could not.
In this case, the IMF is no Ukrainian debt, and those who have them, the Fund is not subject. Naturally, creditors are not very happy about the prospective Ukrainian default on Their debts. They purchased Ukrainian bonds not for the sake of macroeconomic stability, and They hardly care about the long-term financial health of Ukraine. Their home - but in reality, the only interest is to Ukraine on time and in full to pay their bills. The Ministry of Finance of Ukraine complains that the creditors ' Committee refuses to disclose his own composition, and strongly agitating the Committee to write off the debt. For often extremely restrained financial departments of a similar tone - almost analog tavern brawl.
Perhaps beautiful output sides do not come, and instead of the calm and the peace process, Ukraine is waiting for a disorderly default. While Western governments have enough financial resources so that it is easy and fast to resolve this dispute, However, despite the rhetorical support of Ukrainian sovereignty, to pay the money They frankly do not want. So, the near economic future of Ukraine heavily depends on the outcome of negotiations, which, apparently, out of observation.
Ukraine is in a serious political crisis, which affects its economy and the public sector. The authorities are hopeful to improve the situation of foreign borrowing. The IMF Board of Directors on March eleven adopted an opinion on granting Ukraine 17, 5 billion dollars in the composition of the list of activities of the advanced payment. The state will receive 10 billion dollars during the first year, in General the program is designed for four years.