Monday, January 19, 2015

Oleksandr Okhrimenko: the Ukrainian budget was adjusted in order to mislead the IMF |

Interview with a renowned economist and president of the Ukrainian Analytical Center discussing why the Ukrainian budget for 2015 was rigged and whether there will be a default, as well as when the Ukrainian economy will overcome the crisis

- Oleksandr, the Ukrainian budget for 2015 has finally been published. What can you say about it?

— The budget has been adopted exclusively for the IMF. No one read it: everyone knows that the key purpose of the budget is to mislead the IMF and receive a loan. That’s why it was rigged. The data was manipulated.

They’ve come up with nonexistent performance indicators and made sure that the IMF believe that the budget is real in order to get the money. That's all there is to it. In reality, it is clear that such a budget will not work in Ukraine. What is evident instead, is that the country really needs a loan. That’s why they are willing to do whatever it takes to get it.

— Do you think the IMF will still provide a loan to Ukraine? Will it give Ukraine at least something?

— I can’t answer this question, because there are many political factors involved. It is difficult to take them all into account. There’s a strong likelihood that the loan will be issued, but certainly not with 100 percent probability.

Complete story at - Oleksandr Okhrimenko: the Ukrainian budget was adjusted in order to mislead the IMF |

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