Monday, February 2, 2015

IMF to Ukraine: End War or Face Aid Cut-Off - Russia Insider

Christine Lagarde, the head of the IMF, gave an interview to the French newspaper Le Monde on 24th January 2015 that has attracted little attention but which threatens to knock the final nail into Ukraine’s debt coffin.

For the first time since the start of the conflict Lagarde explicitly linked more financial aid to Ukraine with the end of the war.

In Lagarde’s words “No partner of the IMF can consider participating in a support programme if there is a question mark over 20% of the gross domestic product of Ukraine……In order to reform its economy, Ukraine need stable borders, this is indispensable. There is a flagrant link between the economic situation and the military situation.”

This is the logic Ukraine’s leaders have resisted ever since the Maidan coup in February 2014.

As Lagarde pointed out, the original $17 billion stabilisation package Ukraine agreed with the IMF in spring 2014 presumed there would be a settlement of the conflict in the Donbass before this winter.

Instead of treating that as a call to compromise with their opponents, Ukraine’s leaders launched a war against them instead.

Complete story at - IMF to Ukraine: End War or Face Aid Cut-Off - Russia Insider

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