Kiev lulls eyes on foreign creditors

13 April 2018, 21:37 | Economy
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The economic situation in Ukraine indicates that the risk of declaring a default in the state is "extremely high".

This was stated by the deputy of the Verkhovna Rada, the ex-head of the financial committee of the parliament Sergei Rybalka in an interview with the publication "Public People". All the blame for large-scale bribery, the disintegration of law enforcement and judicial systems, outrages the reforms that, by the way, Western creditors require for tranches. "Ukraine already has a catastrophic level of public debt. We spend more on its maintenance than we can earn as a result of a small economic growth. The raw-material model of the economy plus a non-functioning banking system and total corruption program further crises. The risk of the following defaults is extremely high, "- says Rybalka. According to him, most of the important economic, anti-corruption and social transformations in Ukraine are failed or turned into "profanity for zamylivaniya eyes of Western creditors". As an example, he cited the radical braking of financial sector reforms, without the recovery of which the growth of the country's economy is impossible, and "the expansion of the law enforcement and judicial systems is also evident". The MP sees the rescue of the Independent only in real system transformations.

At the end of January this year, the Minister of Social Policy, Andrei Reva, warned that in case of termination of cooperation with the International Monetary Fund, Ukraine is threatened with a default. "If we have IMF support and carry out reforms, they will allow us to refinance. If we stop cooperating with the fund, they say: "No questions, then return the money". Then we will either have to withdraw funds from the budget, or declare a default, "the minister admitted..




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