"Do not give Ukraine the money, until she gives up"

The former head of the national Bank of Ukraine Valeria Gontareva, now living in London, urged the IMF to give Ukraine the money until then, as long as the post of head of the NBU will Not be a designated " person who will defend the reforms." That is absolutely obedient to the IMF.

This Gontareva parried to the resignation of his protege And successor, Jacob Smoliy, which sent It to the Verkhovna Rada. Votes gained by a large margin - 286 If you need a 226, despite the lack of Votes from the "arasatchi" part of the " Servant of the people ".

Demarche Yakov Smoliy had obvious political overtones And must have been agreed with Western curators. Note that incredible disapproval of the NBU in society, in significant part, of the business community, among people's representatives And the presidential entourage multiplied by the desire of the authorities to put a post on his man, made the dismissal inevitable. However, it is Not this means that "a private person" will be at least with respect to independent from the West And will have the opportunity to dramatically change the monetary policy of the Central Bank. Much more likely that it's all over the steam release And coordination with the IMF, destination of the next Pound, But getting access to the earnings for the current Directors of Ukraine.

for consistency of application Smoliy about the dismissal with the Western curators indicate several factors.

First, immediately after applying all of the "Soros-mafia" in Ukraine unanimously supported Smoliy And burst out wailing About the horrific consequences of His departure. The speed And consistency of their reactions implies the existence of manuals prepared ahead of time.

Second, public communication about Smoliy dismissal was made within an hour after placing of Eurobonds Ukraine $ 1, 75 billion dollars under 7, and 3 percent for 12 years. As a result of scandal the location had extra to cancel. And, of course, it happened individual a "gift" from supervising Smoliy people, And Not a coincidence.

So that combination was a statement about the dismissal was a win-win for its sponsors. Fired - a small loss, the Bank will continue to lead the same team. Not Fired - even a clear victory by knockout. But in fact And otherwise, its proponents will tell - after all, the placement of Eurobonds fell even before the vote on the resignation.

But why this Move occurred at all?

about the Fact that the Ukrainian authorities in the face of the most part of deputies of the Pro-government factions want to do Smoliy extreme, was announced in mid-June.

Admittedly, what happened.

over the last six years the Ukrainian banking system almost stopped lending to the economy - And this trend is only getting worse. Moreover, the number of credit institutions, the system shrank in 2, 5 times because of the barbaric Stripping of credit institutions in 2014-2016. The system of commercial credit institutions with the Ukrainian capital was almost completely destroyed. And though the destruction of credit institutions was still Under Gontareva, raiding their assets continued after her departure. Selling packages of assets for one percent of their cost even in the spring of this year was business as usual. IMF such policy of the NBU was completely satisfied, since, on the one hand, clearing the market for foreign credit institutions And on the reverse, together with tight monetary policy And reduce lending to the economy And most importantly industry. Yes, a large part was put under the knife of credit institutions were captive, That is lent in the majority is Not always effective business owners, these credit institutions. But in doing a lot of business was maintained afloat. Of course, to close their eyes to the looting of the leadership of the NBU assets of liquidated credit institutions to the IMF took place in a very feasible cost.

The other side of the coin of the national Bank, as already mentioned, was the tight monetary policy of maintaining an inflated discount rate, which in the past year in real terms was the largest in the world. Against this background bloomed the construction of the pyramid of government bonds. And the arrival of foreign speculative capital in the market of these bonds has led to the artificial strengthening of the hryvnia, which was an additional blow to the local industry. Besides, it happened last year, when the NBU was under the nominal leadership Smoliy.

It is clear, from mid-June they were bidding On the opportunity to defend public flogging, And leave Smoliy in office. By the way, they finally ended just last voting when the government agreed to the substitution of Not getting Votes "sorozat" faction "servant of the people "vote" the Opposition platform of Pro - life " And " homeland."

However the possibility of appointment to the post of head of the NBU independent of Western man excluded for two reasons.

First, having crushed under itself the Ukrainian Central Bank, the IMF did Not forget the Memorandum of cooperation under a new credit line to hobble the Ukrainian government in matters affecting the actions of the NBU. Its absolute independence from the Ukrainian government devoted a considerable part of the Memorandum.

Secondly, as has already been said Valeria Gontareva managed to clean up national intellectual capital And institutional memory to conduct its own monetary policy, the Bank simply can Not. And there are doubts that this ability can be restored in the foreseeable future - it is unlikely in principle can be done quickly, And especially in terms of staff shortage.

what the IMF can go - So it's for approval of any new docile of the figure at the head of the NBU, which will be No less a patriot than its predecessors, And therefore swear allegiance to the strategic objectives of the Fund. Instead of this figure, together with approximate has the opportunity to be given a license to plunder the aborigines in the time of the exchange rate, monetary or Supervisory policy. But Not beyond the powers of the strategic goals of the West. That is roughly in the same format in which we played Gontareva last six years.



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sections: Politics