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IMF loans are no help to Ukraine — Ukrainian lawmaker

January 26, 2015, 21:13 UTC+3 KIEV
Leader of Ukraine's Opposition Bloc Vadim Rabinovich says Ukraine needs to lift taxes on SME, lift inspections, stop borrowing internationally, and stimulate only the sectors like IT or agriculture
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Ukrainian President Petro Poroshenko speaks with IMF head Christine Lagarde

Ukrainian President Petro Poroshenko speaks with IMF head Christine Lagarde

© Mikhail Palinchak/Ukrainian presidential press service/TASS

KIEV, January 26. /TASS/. The IMF’s monetary policy is unacceptable for Ukraine and makes it a mere supplier of raw materials to Europe, the leader of the Opposition Bloc and deputy of the Verkhovna Rada, the Ukrainian parliament, Vadim Rabinovich said to the Ukrainian magazine Korrespondent on Monday.

“The IMF’s monetary policy is austerity aimed at destroying our own nation. It suits us if we want to leave behind 5-7 million people,” Rabinovich said.

He added that “not a single country has been rescued by the IMF loans yet.” “Only private entrepreneurs can do that. We need to quit hold of the economy, lift taxes on small and medium enterprises (SME) for two years, lift inspections for two years, stop borrowing internationally, and stimulate only those sectors that have the future, like IT or agriculture,” he said.

“Now [they] try to make Ukraine a mere supplier of raw materials to Europe,” Rabinovich said, adding that in order to find a way out of the complicated economic situation “we need to lay down a clear plan how to proceed.” “And instead of admitting guilt - we’re not accustomed to it in Ukraine - they’re trying to bring the matter to a close with the help of war,” he said.

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