Wednesday, 8 October 2014

IMF Loans Will Destroy Ukraine Economy

In the video below, distinguished professor and Wall Street financial analyst Michael Hudson discusses IMF loans for Ukraine.

His main points are:

  • Ukraine is not meeting the IMF conditions nor is the IMF meeting its own conditions.
  • According to IMF articles of agreement, it is not allowed to lend money to a country that is not able to pay.
  • Repayment of IMF demands will devaluate Ukrainian currency, make imports much more expensive, increase the cost of living, unemployment will rise, etc.
  • Internally, IMF economists are complaining that what they plan to do in Ukraine has already been done in Greece - leading her to economic suicide

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