Ukrainian government exploited the war
Because you stand in the war with nuclear power Russia, should the restructuring of the debt according to the wishes of Kiev to go, so Prime Minister Yatsenyuk
The Ukrainian government seems to stand with their backs to the wall and risks in order to escape the threat of bankruptcy, to alienate lenders. For a long time, Ukraine is negotiating with the IMF for a “debt restructuring” and hopes it to get more loans, even if the creditors can not be operated. So the Ukrainian government has a valid end of May to July 2016 ◥law decided the President Poroshenko leaves the possibility of being able to suspend payments to the lenders. Overall, the country’s debt in the amount of 68 billion dollars and ◥would need at least 40 billion in loans, the IMF has only 17.5 billion, the EU, the USA and other donors 7.5 billion over the next 4 years in prospect provided. With 15 billion debt should have been settled, the foreign cash reserves will be increased with 10 billion to stop the rapid decline of the currency. It is not enough back and forth.
Prime Minister Yatsenyuk in Washington. Picture: kmu.gov.ua
Restructuring is mainly that the Ukrainian government is relying on debt relief. The Ukrainian government a gamble and thus, the Greek government in the shadows. So ◥said Prime Minister Yatsenyuk after meeting with IMF head Lagarde, that Ukraine’s debt, even the wool restructure to private creditors, according to its proposals. One of the proposals is just to write off most of the debt owed to private creditors to help Ukraine, what are not pleased. But the IMF, the US government and the US Treasury would have to move.
Yatsenyuk draws once again the war map, which also shows that at least one fraction of the government’s strategic interest in maintaining the conflict to put the supporters countries under pressure. “Ukraine,” said Yatsenyuk, “is at war with a nuclear power – with Russia There is no other option than the conditions (the Ukrainian government) to accept terms of Restrukurierung the debt and to help the country, a difficult economic situation. to overcome. ” Other formulations are such that in the Ukraine, the war between Russia and the West will be fought or that Ukraine protect the West against the Russian aggression. Putin ◥struggles not only with Ukraine, “but with the whole free world,” said Yatsenyuk in another variation. When the law was passed on the moratorium on loan repayments to private creditors from the Rada, ◥said Yatsenyuk turned to this:
If you want to support Ukraine, if you sincerely the Ukrainian citizens and the Ukrainian state welcome who suffer from the Russian aggression who are suffering from the war, who have lost 20 percent of the economy by the Russian military aggression in the Crimea, where tens of thousands hitchhiking around by Russian soldiers on Ukrainian land, do not help us with words, but with a dollar or more billions of dollars.
This will help not only Ukraine, but also Europe, he said. One wonders, would respond as to similar demands on the part of the Greek government, which is just as the current Ukrainian government responsible for the debt.
Yatsenyuk had the end of May not only facing Russia, but also France and Germany again ◥emphasized , not wanting to negotiate with the separatists “. We speak with only with terrorists when they are behind bars” This means in plain text, that the Minsk Convention can not be implemented.
That said Yatsenyuk on the same day as the Ukrainian Ministry of Finance for a loan commitment of US government ◥Treasury bonds worth one billion US had placed on the market. Under the agreement the US guarantee for government bonds. For the Ukrainian government, this second loan guarantee by the US government shows as well as the recently carried out macro-financial assistance EU amounting to 1.8 billion euros the growing “support for the economic reform policies”. Both tools are designed to help in the restructuring of credit load. That the government actually could take a billion dollars to the guaranteed by the US government bonds with a single interest rate of 1.847%, is hardly surprising and says nothing about the confidence of investors in Ukraine.
Following discussions of Yatsenyuk and the Finance Minister Jaresco with US Treasury Secretary Lew, the IMF has suddenly ◥agreed to make additional payments to the Ukraine, even if creditors are not being served. In July, the next tranche of 1.7 billion dollars is pending. The US government and the European EBRD for a write-down of debt, the private creditors, however, who have come together to form a group under the leadership of the US investment fund Franklin Templeton, ◥propose a postponement before and a decree of 500 million US dollars what the Ukraine but rejects.
Despite the support of the US government is growing even there the skepticism about the Ukrainian government. Especially the UN envoy Samantha Power is in Kiev. She ◥accuses the government of a lack of will to investigate serious crimes such as the massacre on the Maidan or in Odessa. And she ◥throws Kiev plan to have many reforms carried out only on paper. The major problems that the power of the oligarchs, corruption and lack of transparency would continue to exist. They ◥stressed also that there was “no military solution” to the conflict “, were no statements about the geopolitical goals of Russian politics and nothing wanted to say on whether a visit by President Obama in Ukraine would be good. But they condemned Russia sharply and relies on the penalties which would need time to take effect.
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