Quote It should be understood that the IMF money will not enter the country. It is earmarked for the reimbursement of Ukraine’s short term debt. It’s fictitious money. The combined impact of currency devaluation and the removal of fuel subsidies will trigger inflation. The austerity measures will enforce a freeze in nominal wages, leading to a collapse in real earnings. Prior to the conduct of negotiations pertaining to a draft agreement, Yatsenyuk had already called for an unconditional acceptance of the IMF package: “We have no other choice but to accept the IMF offer”. In surrendering to the IMF, Yatsenyuk was fully aware that the proposed reforms would brutally impoverish millions of people, including those who protested in Maidan. In an address to Parliament on March 27, following the confirmation of the IMF’s pledged $18 billion loan, prime minister Arseniy Yatsenyuk warned that Ukraine was “on the brink of the economic and financial bankruptcy”. The proposed “‘solution” includes a significant increase in income taxes, a freeze on wages, curtailment of old age pensions and higher energy prices. “We have no choice but to tell Ukraine the truth,” said Yatsenyuk. The Ukrainian people should understand that this agreement reached with the IMF will have devastating social implications. This government integrated by Neo-Nazis has betrayed the people of Ukraine. It is not acting on behalf of the people of Ukraine, it is obeying orders emanating from Washington and Brussels.
Posted on: Fri, 28 Mar 2014 09:08:29 +0000
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