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IMF tranche to put Ukraine under full western control — non-governmental movement leader

The debt trap Ukraine has found itself in as a result of ‘self-sacrificial’ activity by the kamikaze-type reformers will grow still deeper, head of the non-governmental movement Ukrainian Choice says

© EPA/JIM LO SCALZO

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IMF approves allocation of next tranche of $1.7 billion to Ukraine

KIEV, August 4. /TASS/. The IMF’s approval of another loan tranche to Ukraine will increase the authorities’ political and financial dependence, the leader of the non-governmental movement Ukrainian Choice, Viktor Medvedchuk, has said.

"The debt trap our country has found itself in as a result of ‘self-sacrificial’ activity by the kamikaze-type reformers will grow still deeper. The IMF has approved of the disbursement of a $1.7-billion second loan tranche to Ukraine. The overall amount provided under the current Extended Fund Facility will total $6.7 billion," Medvedchuk.

For this funding, he said, "Ukraine will have to pay back dearly: harsh and systemic control by international moneylenders, and consequently, the lack of political, financial and economic independence will be guaranteed."

Medvedchuk says that tight structural pegs and deadlines have established for all liabilities and arrangements made for total, comprehensive and exhaustive reporting to the IMF by the National Bank of Ukraine and all ministries and agencies.

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Ukraine crisis Ukraine Economy IMF Financial aid

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